Okay, thank you at that end, i mentioned that im supportive of the provisions you have include in the recent treasury report. I hope that the Federal Reserve is taking some recommendations seriously. Have you read the report yet or are you aware of it yes, i have read the report and there are many very useful and productive suggestions that mirror things you have been thinking and doing ourselves with respect to tillerian the rate we are always looking for ways to reduce the burdens that are very useful there are a few points where we have a different view, but a lot in it that is very useful. I look forward to working with you on that while our branch of the government is a check on the executive branch and agencies, we want to work with you to try to improve the ability of our banks to be able to do the job of helping our communities grow. Ive worked with the committee in the past. My district has been caught in purgatory for the last five years. The agency has blocked the merger and
The committee will come to order. The chair is authorized to declare a recess of the committee at any time. Members will have five legislative days to submit extraneous materials for the record. This is the purpose of receiving the semiannual testimony of the chair of the board of governors of the Federal Reserve system on Monetary Policy on the estate on the state of the economy. Recognize myself for an opening statement. Since we last convened on Monetary Policy, there have been encouraging economic headlines. Onfidence is up unemployment remains low, as does inflation. But it rests too much on incredibly low participation payment high disability participation rights. Both paychecks and savings for working Americans Still have room to grow after eight years of distortionary Economic Policy under the Previous Administration. On the fiscal front, help is on the way. House republicans have passed the American Health care act to lifted the burden of obamacare on our economy and the finan
Her term ands in february. Inwhen her term ends february. The committee will come to order. The chair is authorized to declare a recess of the committee at any time. Members will have five legislative days to submit extraneous materials for the record. This is the purpose of receiving the semiannual testimony of the chair of the board of governors of the Federal Reserve system on Monetary Policy on the estate on the state of the economy. Recognize myself for an opening statement. Since we last convened on Monetary Policy, there have been encouraging economic headlines. Onfidence is up unemployment remains low, as does inflation. But it rests too much on incredibly low participation payment high disability participation rights. Both paychecks and savings for working Americans Still have room to grow after eight years of distortionary Economic Policy under the Previous Administration. On the fiscal front, help is on the way. House republicans have passed the American Health care act to l
We try not to opine on whether theyre correct or theyre not correct. But on, as you asked what the potential spillovers or impacts on Financial Stability could be of asset price revaluations, my assessment of that is that as asset prices have moved up, we have not seen a substantial increase in borrowing based on those asset price movements. We have a Financial System, a Banking System thats well capitalized and strong, and i believe its resilient. Okay. Thank you. Time of the gentle lady has expired. The chair now recognizes the gentleman from missouri, mr mr. Lucamire, chairman of the subcommittee. Thank you, mr. Chairman and thank you, madam chair, for being here today. As chairman of the Financial Institutions subcommittee, my concern is the oversight by the various Financial Services agencies. Chair yellen, when it comes to the feds supervisory role, i renew my call and the call of so many colleagues that the fed take a more measured approach and withhold any new regulation until
Economic condition and possible fed actions in the future. You look like nervous. Im much more nervous, like yeah. Yeah. At work it will be eight or nine days away, but it can happen any time. I hope so. Im better than that. Lets talk about schedules. The committee will come to order without objection and they declare a recess of the committee at any time. All members will have five legislative days within which to submit extraneous material to the chair for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony and the board of governors on the Federal Reserve system on Monetary Policy and the state of the economy. I now recognize myself for three minutes to give an opening statement. Since we last convened to take chair yellens on Monetary Policy, headline remains low as does inflation, but the headline Unemployment Rate still rests too much on an incredibly low Labor Participation rate and regrettably high disability payment Participation Rate.