Been mentioned but i would like to make sure that you keep a close eye on this because when we talk about manufacturing, the ability to be competitive and all that was ever said to me by our manufacturers were if it was a fairfield well do fine. But if the game is rigged, i dont know how we win that kind of game. And ive always had the same feeling that and my Ranking Member Sherrod Brown right next to me in ohio has dealt with this with his manufacturers as well if currency is fairly valued and we are not successful, our manufacturers, if i cant win a fair game that is on me. But if it is being manipulated against my company, it makes it awful tough to keep the workers working and to keep our economy growing, so i would just ask that you keep that in mind as you move forward. And thank you so much for your service. Thank you. Madam chair. You mentioned that the current unemployment is listed at 5. 7 . However, one alternative measure that seems to fully capture a better sense of Labor
Well, if the fed were to raise rates too soon, senator, we would risk undermining a recovery that is really just taking hold. And is really succeeding, i think, in improving the labor market. As as i said, i dont think were back to attaining yet conditions id associate with maximum employment or normal labor market conditions. Things have improved notably. But were not there yet. And so we want to see a healthy recovery continue. In addition, as you mentioned, inflation is running well below our 2 objective and while we think a significant reason for that is because of transitory factors, most importantly the decline weve seen in energy prices, we are committed to our 2 objective. Just as we dont want to overshoot 2 on the high side, we dont want to chronically undershoot 2 on the low side either. So before raising rates, we will want to feel confident that the recovery will continue and that inflation is moving up over time. There are also, of course, risks of waiting too long to remo
And yet some continue to dismiss calls for change or more transparency at the fed. I would argue, however, that theres an even greater need for additional oversight by congress, and further reforms. Our central bank is expanding its influence over households businesses, and markets in recent years. Not only has it pushed the boundaries of traditional Monetary Policy but its also consolidated Unmatched Authority as a financial regulator. As the fed grows larger and more powerful, much of this authority has become more concentrated in washington, d. C. , and in new york. The fed emerged from the financial crisis as a super regulator, with unprecedented power over entities that it had not previously overseen. With such a delegation of Authority Comes a heightened responsibility, i believe, for the congress to know the impact these new requirements place on our economy as a whole. The role of congress is not to serve on the federal open Market Committee, but it is to provide strong oversig
Or those reasons and more, im pleased to have you here for the first time. Welcome. Sec. Moniz pleased to be here. Charlie we can talk about energy in a broader sense and what you think of where we are in terms of climate and other issues. You have become famous to all of us sitting next to john kerry. The interesting fact is the foreign minister was at the table a few weeks ago. Someone you knew at m. I. T. When you were both students. Sec. Moniz we overlapped at m. I. T. But did not know each other then. We did not we met subsequently in vienna when he was heading the delegation for iran. We did not know each other but i can assure you, we did not have the substantive discussions we had for 30 or 40 hours oneonone in switzerland. Charlie tell me what your role is. Sec. Moniz what happened is, i would say more on the side of the irani and negotiators initially, to reach an agreement that involved significant limits on the Nuclear Program that they built and were running. The foreign m
Table for the first time. Theres much to talk about. Were going to talk about energy in a broader sense and what you think of where we are in terms of climate and other issues, but let me begin with nuclear talks. You have become famous forcing the two john kerry and often sitting next to foreign minister for reid who was at this table a week ago and is someone you knew at m. I. T. When you are students. Ernest we overlapped at m. I. T. And did meet subsequently in vienna when he was heading the iaea delegation for iran. As students, we did not know each other but i can assure you we did not have the substantive discussions that weve had for 30 or 40 hours one on one in switzerland. Charlie tell me what your role is. Ernest i would say more on the side of the iranian negotiators initially that i think to reach an agreement that involved significant limits on the Nuclear Program that he was running and he was the foreign minister himself before that they felt without having the team of