This week: Trade talks shift to Pacific

{mosads}Federal Reserve Chairman Ben Bernanke will attract headlines Tuesday when he delivers a speech. His comments will focus on how the financial crisis and resulting recession have changed how central banks operate, and come as the Fed embarks on yet another unorthodox effort to boost the economy by stacking its portfolio with longer-term securities. The following day, the Fed will release its latest “beige book,” in which business contacts and Fed governors from around the country give their take on the economy.

On Tuesday, the Senate Finance Committee will continue its lengthy debate on tax reform. The panel has been holding weekly hearings discussing various aspects of a tax code overhaul, and this week the group will consider incentives for charitable giving, including what place they might have in any made-over tax code. The hearing comes as charities have fretted over recent proposals from the president to limit the deductions high-income earners can take for charitable donations, worrying it could lower donations from the wealthy.

The Senate Banking Committee on Thursday will continue its exploration of housing finance reform. The full committee hearing will tap experts for opinions on the 30-year fixed-rated mortgage, which has been a staple of the housing market for decades but could be threatened by major reform.

The committee is also holding a pair of subcommittee hearings next week. On Wednesday, a panel will explore exchange-traded funds and their role in financial markets, and the next day lawmakers will discuss the global economy after global finance leaders gathered for a G-20 meeting over the weekend.