CBO to testify on economic outlook

The director of the Congressional Budget Office will testify next week on the CBO's latest outlook for the budget and the U.S. economy.

CBO Director Doug Elmendorf's testimony comes just as Janet Yellen takes over as Federal Reserve Board chairmzn. Over the last few weeks, the Fed's slow withdrawal from buying Treasury debt and mortgage-backed securities, combined with signs of economic slowdown overseas, has rattled equity markets.

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Job creation has also been soft, and recent declines in the unemployment rate have been due largely to few people looking for work.

Two other House committees will hold hearings on the resurgence of al Qaeda, and two other hearings will be held to discuss the modernization of the Federal Aviation Administration (FAA), and the FAA's impact on small companies.

Details on these and other hearings follow:

House Armed Services

Feb. 4, "State of Al Qaeda, its Affiliates, and Associated Groups: View from Outside Experts"
     10 a.m., 2118 Rayburn House Office Building

House Budget

Feb. 5, "The Congressional Budget Office's Budget and Economic Outlook"
     10 a.m., 210 Cannon House Office Building

House Education and the Workforce

Feb. 5, "The Foundation for Success: Discussing Early Childhood Education and Care in America"
     10 a.m., 2175 Rayburn House Office Building

House Financial Services

Feb. 5, "The Impact of the Volcker Rule on Job Creators, Part II"
     10 a.m., 2128 Rayburn House Office Building

House Foreign Affairs

Feb. 5, "Al-Qaeda's Resurgence in Iraq: A Threat to U.S. Interests"
     10 a.m., 2172 Rayburn House Office Building

House Judiciary

Feb. 4, "Examining Recommendations to Reform FISA Authorities"
     10 a.m., 2141 Rayburn House Office Building

House Science, Space and Technology

Feb. 5, "Examining the Science of EPA Overreach: A Case Study in Texas"
     10 a.m., 2318 Rayburn House Office Building

House Small Business

Feb. 5, "The FAA's Impact on Small Businesses in the General Aviation Industry"
     1 p.m., 2360 Rayburn House Office Building

House Transportation and Infrastructure

Feb. 4, "The FAA Modernization and Reform Act of 2012: Two Years Later"
     10 a.m., 2167 Rayburn House Office Building