WASHINGTON - President Clinton is expected to sign legislation soon that would preserve for an additional six months the requirement that the Federal Reserve Board chairman testify on the economy twice a year before Congress.The law requiring so-called "Humphrey-Hawkins" testimony, along with the Fed's annual survey of bank fees and services and about 3,000 other government-mandated reports, is to expire in mid-December. But the House and Senate tacked onto the catchall spending bill it passed last week an extension of all these reporting requirements until May 15.

Enactment of the temporary provision would mean that Fed Chairman Alan Greenspan would have to testify in February as usual before the House and Senate Banking committees.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.