Development and the director of the federal Housing Finance agency testified on increasing housing supply and reducing cost for borrowers. This before the Senate Banking committee. Its one hour 45 minutes. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] the committee on banking Housing Urban Affairs is called to order. Thanks for theo two witnesses joining us. Home is a lot more than four walls and roof. Home is where you go after long day at work. Home is where your kids play and do their homework. Home is where you plan for the future and build wealth. Home is a millions of families join the middle class. Our homes are an anchor in our lives, but for too many families around the country i home they can afford to c build the life around just just out of reach. I hear in ohio. I hear from people in lima city summer to why growth in mansfield were a new building with feet for 54 apartments for working families just opened. For the
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 high prices, Interest 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 good to their commitments to workers and families by lowering Interest Rates and protecting our Financial System from wall street executives who have used their wealth and power to influence Economic Policy and avoid accountability. Keeping rates
Target is looking to shut stores. Costco said its not a major problem. President biden urges uaw workers to stick with the strike while elon musk says the demands are a sure way to bankrupt the big three. We will get to costco in a minute. Lets start with the markets looking to rebound from yesterdays selloff. Jim, you have said this morning be careful, dont bite too soon. Thank you. Because you come in, now i have to tell you that when i was watching Frank Holland this morning, looked like we were about to have a breakout, then we go back down. What i want people to understand is october is a good month. I can understand you trying to position, but i also am more worried that Interest Rates, which did not go higher on the durable goods, the Interest Rates could reverse, and, david, i dont care what month were going into. This market, as weve indicated is really about Interest Rates. Its not about, as much as people might want to say, its not about earnings. The earnings we have had th
[background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had created on diversity and inclusion. But we are going to talk about what it means to have this wealth gap. You are going to talk to some people who are dealing with clothing this wealth gap have to cl
Should not be apologetic, am i right . So dont take a picture, make a picture, lets go out there and go to war. I wasnt on the program, but i am the program. [laughter] [applause] at the event. [background noises] good afternoon everyone. You look like a great crowd here this afternoon. Before we even start give yourselves a big round of applause for coming to learn more about closing the wealth gap in diversity and inclusion. We have some wonderful panelist with us this afternoon. I am so pleased to be here today and honored to be hosting this panel on Financial Services closing the wealth gap and providing access to capitol my name is maxine waters. [cheering] formerly chair of the Financial Services committee of the house of representatives and now the ranking member. Still trying to carry on the work that we were doing as a chair. As you know after the recent election they were able to get control of the house of representatives and they dismantled our subcommittee that i had creat