The committee will attempt to order. We are already having some technical problems. There we go. Thank you. Before i begin my Opening Statement this morning, i want to acknowledge the loss of congressman john lewis. The civil rights icon changed history. In 2015, i was honored to be among those who joined him in selma to commemorate the 50th anniversary of the bloody sunday march 2011. I send my deepest condolences to his family and loved ones. Todays hearing comes at a time when our nation is experiencing confluence of the Health Crisis economic depression series of killings laid bare the racial injustices in our country. Our focus today is on covid19 disproportionate impact on black and latino seniors as well as seniors from other racial and ethnic minority movies. According to the New York Times analysis black and latino residents are infected with the virus at three times the rate of their white neighbors and they are nearly twice as likely to die from covid19. The state of maine h
Statements, i want to acknowledge the loss over the weekend of congressman john lewis, a civil rights icon who changed history at great personal sacrifice. In 2015 i was honored to be among those who joined him in selma to commemorate the Fiftieth Anniversary of the blood sunday march which he led. I send my deepest condolences to his family and loved ones. Todays hearing comes at a time when our nation is experiencing the confluence of a health crisis, economic depression and a series of killing is that laid bare the Racial Injustice that still paints the country. Our focus is on covid19s disproportionate impact on black and latino seniors. As well as seniors from other racial and ethnic minority communities, black and latino residents are infected with a virus, nearly twice as likely to die from covid19. The state of maine has the worst Racial Disparity in covid19 cases in the country, also comprise less then 2 of maines population, they account for approximately 23 of all cases, lik
Thank you very much for being here, and i want to thank him because he graciously allowed to have the subcommittee hearing and for me to be able to chair it. This is a discussion really important to so many of us here and so many of our colleagues. Information is power today, and we see it all over the globe when its used improperly, hes used as a weapon. Democracies like ours require a well informed electorate, but our enemies are increasingly trying to undermine that principle through socalled disinformation campaigns designed to mislead voters. Malign actors like russia systematically exploit social media, radio, television, and print to twist facts to suit their needs and distort the truth to an unsuspecting populous. Its not just about elections. We see it today with regard to the coronavirus and misinformation thats being spread. Its an interesting tactic because its inexpensive and yet can be very effective. It has a high degree of deniability. Its anonymous almost always and if
The board of governors of the Federal Reserve system and doctor christopher, the member of the board of governors in the Federal Reserve system. Welcome and congratulations to each of you for your nominations. I see friends and family in the room today and i welcome them as well. Were fortunate to have these two highly qualified nominees appearing today. These positions are critical to ensuring a safe, sound and vibrant Financial System in the healthy growing economy. The Federal Reserve was created by congress as the nations central bank to promote a stable economy and a safer more flexible Financial System. Among the Federal Reserve responsibility is conducting the nation Monetary Policy with the mandated promoting maximum employment, and moderate longterm Interest Rate. In addition to its Monetary Policy that oversees a significant portion of the sector including large, regional and Community Banks as well as certain nonbanks. It aims to foster a safe and efficient payment and settl
Nominee for the Federal Reserve. To be exact. [gavel] mr. Crapo this hearing will come to order. This morning we will consider the nominations of the honorable judy shelton to be a member of the board of governors of the Federal Reserve system. And dr. Christopher waller, to be a member of the board of governors of the Federal Reserve system. Welcome and congratulations to each of you for your nominations. I see friends and family in the room today and i welcome them as well. Were fortunate to have these two highly qualified nominees appearing today. These positions are critical to ensuring a safe, sound and vibrant Financial System and a healthy, growing economy. The Federal Reserve was created by congress as the nations central bank to promote a stable economy and a safer, more flexible Financial System. Among the Federal Reserves responsibilities is conducting the nations Monetary Policy with the mandate of promoting maximum employment, stable prices and moderate longterm Interest R