Senate committee on banking, housing and urban affairs will come to order. Today is a hybrid format. Our witnesses are in this person but members have the option to appear in person or virtually to consider the nominations of dr. Lael brainard to be vice chair of the board of governors of the Federal Reserve system. And acting director Sandra Thompson to be director of the federal Housing Finance agency. Its amazing what a difference a year makes. We have today safe and effective vaccines that are saving lives, that are getting people back to work. 207 million americans have fully vaccinated. In 2021 we added 6. 4 million new jobs, more in any year since 1939. Workers are demanding raises. Theyre finally getting them. Theyre changing jobs at record rates because people finally have some options. The past year has illustrated our economy works best when it works for everyone, not just wall street, not just the top 1 . Everyone. Whether you punch a clock or raise children or care for an
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
Senate banking Housing Urban Affairs committee to testify on how all. Addiction is affecting communities advocating for fentanyl awareness and legislative solutions to stop drug smuggling. This is just under two and a half hours. [inaudible conversations] Senate Committee on banking housing urban frizzle come to order. Thank your for joining us, the witnesses all you you in the audience and members of this committee. The fentanyl crisis is one of the gravest threats facing all of our communities. Every year, 5,000 ohioans die from unintentional Drug Overdoses. In 2022, a staggering 110,000 americans lost their lives as a result of an unintentional overdose. A moment ago mr. Dufour said in the hall its equival47 at least that going down every day. Imagine eachlo year losing a sitting of the size of dayton, ohio or north charleston, South Carolina or b or wilmington, north carolina. Behind all those numbers most tragically our stories stories of families torn apart appeared to losing tee
Housing, in urban affairs will come to order. The days after the run on Silicon Valley bank, when it was close by the california banking regulators and taken over by the fdic many in washington, new york, in california asked, how did this bank and Signature Bank, soon after, failed so spectacularly . Was it the regulators falling down on the job . Was it new technology . The first social media fueled bank ran . How on earth could this happen . In ohio, the, no one is surprised by the hubris of coastal Bank Executives. The old adage has become cliche because it is so often true. The simplest explanation is best. It is first and foremost the bankers fault that the banks crashed. We know that federal and state banking officials repeatedly told managers and directors of your banks where there were problems, big problems the kind of problems you cant ignore. The tiny you have to start fixing right away. Bank executives did not listen. That is a well documented fact Silicon Valley banking si
Live at 9 00 p. M. Eastern on cspan, cspan now, or online at cspan. Org. Be sure to scan the qr code to listen to our companion podcast. Next, a hearing on combating financing for terrorists from a senate banking, housing and urban affairs committee. Witnesses talk about financial ties between iran and hamas. And the role of cryptocurrency in fundraising for terrorist groups. The senate banking, housing and urban affairs committee, remarks witnesses talk about financial ties between iran and hamas and the role of crypto currency in fundraising for terrorist. Welcome our perhaps permanent now ranking member. This month the world watched in horror support israel as a different country and aid civilians and gaza and its file provide assistance including robust military economic humanitarian aid desperately needed for those harmed by hamas terrorism. We must stand with both ukraine and israel as i fight back against two of the worlds biggest threats, putin and iranian back terrace like, th