Yield. Thanks, mr. Chair. A chair brown senator tester f montana, is recognized. Thank yr being here, chair powell. We appreciate your work. Difficult situation. But i think you have done a really good job. Thank you for that. Look, success at the fed mandate for strong employment and stable prices is critical for smallsin. For farmers, ranchers, for montana families. You fall all the metrics. From perspective, where is the economy at . Now and where is it going . Chair powell healthy, sustainable pace. Thats the one thing. Second thing, the labor market is very strong and quite tights. 3 3. 7 unemployment for the last 24 months. Thats the longest period since 50 years. Third is inflation. Inflation was too high. Its come down sharply since the beginning of last year. The head line number has come down from the 5 down to 2. 4. The core number is at 2. 8. I think it was atear ago. These are big declines. We are in a very different place. A healthy place. We are going to use our tools to
Outlined at the Central Banks Monetary Policy before the Senate Banking housing and urban affairs committee. He also talks about the state of the eco inflation, Interest Rates and bank Capital Requirements. This is two hours and 15 minutes. If you would like to give it again you could certainly dor that. The fed has power in shaping our economy. Your job is to promote stable and maximum employment. Today the cost of living is still too expensive for most americans. The fed has one tool available. That tool does nothing to address the cause for wide costs remain too high. Corporations price gouging to boost profits and make the shareholdersrs richer. Higher rates of doomed force, higher Interest Ratesont ons to lower but high Interest Rates are rising housing costs hindering wage growth stifling Small Business that. Now is the time for the fed to decide whether its going to make good on its commitments into families by lowering Interest Rates and the Financial System from wall street ex
5d we control from a regulatory or standpoint. In the longer term, companies are withdrawing from writing insurance in coastal 10 years from now how are we going to get hazard insurance . Maybe the government will step in, but its a continuing issue. Senator brown senator advance of ohio senator vance ised. Thank you for being here. These hearings are important and have an opportunity to provide over what is going on in the fevered that affects our constituents. I wanted torm focusn basal3 and there have been various proposals that draw them down to banks and go back to one of the most significant crisis in our Banking Sector and the u. S. Spoke in private and i believe in public, but one of the concerns i have when we about Capital Requirements on the banks and there is maybe an argument that they would bought longterm treasuries and even treasury bond risk and would hasten the collapse. I guess i want to start here, when we talk about some of the basal regulations, what was the origi
London max foster has the week off. Were trading places. Just ahead on cnn newsroom what President Trump did not do is direct Vice President pence to do anything. He asked him. The president was talking about us rejecting votes, his lawyers suggested that we return votes to the states. They were asking to return the election. He said, daddy, is this heaven . I said no, its iowa. November 2024, thats not the end of the a campaign. Its the start line of a national revival. Yes it just shows how cool this day sometimes can be. The smaller details makes the difference between winning and losing. Live from london, this is cnn newsroom with max foster and Bianca Nobilo. Its monday, august 7th, 9 00 a. M. Here in london, 4 00 a. M. In washington, where donald trump and his legal team are just hours away from another deadline in the case over his alleged efforts to overturn the 2020 u. S. President ial election. Prosecutors have requested limitations on evidence provided to trumps team. Specif
This is what democracy looks like. Cspan, powered by cable. Jerome powell testified on Interest Rates inflation before the banking committee. They talk about Bank Requirements and immigration and Digital Currency after his remarks. This is nearly 2 1 2 hours. Thank you, the Housing Affairs committee will come to order. General powell, after your Opening Statement and you want to give it again, you can certainly do that. The fed has immense power in shaping the economy, your report is clear, stable prices and employment. The cost of living is too expensive for americans. The fed has one tool to fight the hi p rates. That tool does nothing to takes the real cause. Corporations price gouging to boost profits and make their shareholders richer. Higher Interest Rates dont force corporations to lower their prices but high Interest Rates are raising housing costs, hindering wage growth, stifling Small Businesses, we all know that. Now is the time for the fed to decide whether it will make goo