About the fed in recent, whether helping to stave off total economic collapse during the 28 financial meltdown or countering the shocks of the covid 19 pandemic or most struggling to lower. As gina makes clear in her new book, these crises along with the actions of some pivotal central bankers like, the current fed chairman, jay powell, have fundamentally changed the feds purpose and function in american society. The fed has taken its Emergency Powers to new, gina writes, stretching its mission as lender of last resort and purchasing backed debt in massive sums. Its gone from insisting that social issues are not in its domain to flying pride, flags and shaping conversations about racial, gender and, geographic inequity with research and expert advice. Fed officials often talk about staying in their lane, but lane, gina observes, has into an avenue. Gina is very well positioned to tell the story of the feds extended and its and its vast influence. Shes been covering the fed and economic
Us this evening journalist gina. Here to talk about her very timely and informative new book limitless. The Federal Reserve takes on a new age of crisis. Now weve all been hearing a lot about the fed in recent, whether helping to stave off total economic collapse during the 28 financial meltdown or countering the shocks of the covid 19 pandemic or most struggling to lower. As gina makes clear in her new book, these crises along with the actions of some pivotal central bankers like, the current fed chairman, jay powell, have fundamentally changed the feds purpose and function in american society. The fed has taken its Emergency Powers to new, gina writes, stretching its mission as lender of last resort and purchasing backed debt in massive sums. Its gone from insisting that social issues are not in its domain to flying pride, flags and shaping conversations about racial, gender and, geographic inequity with research and expert advice. Fed officials often talk about staying in their lane
Everyone here wants the same thing and that is to serve americas businesses the best we can. Those of us out here on the dais at the lincoln advantage of issue and let us know how we are doing all the time and on an ongoing basis as head of an agency i sometimes worry that too often you most fear from your own folks and from other washington bureaucrats fear that is the only explanation for why the six to nine gao identified concerns and problems havent been addressed. Yesterday wasnt the first time these issues have been raised. Yesterday we heard some pretty serious concerns both by members of this committee and from our gao witness who testified here yesterday about the management of the sba. Administrator maria contrerassweet, since you are with us yesterday will recap is briefly although im sure your staff is already given you a rundown. I told the gao witness yesterday that this kind of reminds me of being a parent. If your teenagers room is the mass and then stuff from all over
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