News bites: Yellen faces grilling on banking regs

Known more for her expertise on monetary policy, Janet Yellen is likely to face questions about the Federal Reserve’s regulatory role during her Senate confirmation hearing to head the central bank, The Wall Street Journal reports.

The hearing before the Senate Banking Committee is expected to yield some fireworks, but ultimately few major obstacles to Yellen’s eventual confirmation, according to The Hill’s On The Money blog.

{mosads}A Public Citizen study issued Thursday morning pushes back on the notion that federal regulations are dragging down the economy, RegWatch reports.

Some farmers are worried that sweeping new food safety regulations could put them out of business, according to The Bradenton Herald.

More from RegWatch:

More than 150 House Democrats joined with a group of Tea Party Republicans in opposing “fast-track” authority for President Obama to force an up-or-down vote on major trade deals now in the works.

The Chamber of Commerce issued a report finding that ObamaCare’s employer mandate, though delayed by a year, is prompting businesses to slash their workers’ hours.

An analysis from the nonpartisan Congressional Budget Office found that the government could raise as much as $21 billion by imposing fees to cover the costs of federal regulations.

Republicans on the House Homeland Security Committee warned that HealthCare.gov, the troubled ObamaCare website, is ripe for cyberattacks.

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