Good morning. The committee will please come to order. Administrative matters based on the advice of the attending physician, after we consulted with the department of health and Human Services and the centers for Disease Control and prevention, individuals in the hearing room are at least six feet apart. As a result theres no room for the public to attend in person. Representatives of the press are working as a pool to relay their observations to colleagues. The hearing may be watched online. Unedited recording will be available on the committees website. Witnesses are participating in Video Conference in a onetime exception. Some senators including the chairman are participating via Video Conference. Senators, weve been advised may remove their masks to talk into the microphone when theyre in the hearing room as theyre six feet apart. Im grateful to the rules committee, sergeant at arms, the press gallery, the capitol police, Committee Staff, and everyone all for their hard work to k
Nominee for the Federal Reserve. To be exact. [gavel] mr. Crapo this hearing will come to order. This morning we will consider the nominations of the honorable judy shelton to be a member of the board of governors of the Federal Reserve system. And dr. Christopher waller, to be a member of the board of governors of the Federal Reserve system. Welcome and congratulations to each of you for your nominations. I see friends and family in the room today and i welcome them as well. Were fortunate to have these two highly qualified nominees appearing today. These positions are critical to ensuring a safe, sound and vibrant Financial System and a healthy, growing economy. The Federal Reserve was created by congress as the nations central bank to promote a stable economy and a safer, more flexible Financial System. Among the Federal Reserves responsibilities is conducting the nations Monetary Policy with the mandate of promoting maximum employment, stable prices and moderate longterm Interest R
variety of different viewpoints? and really encouraged by the fed chair powell:chair powell: i do back in the day, but i get the chair powell: i do. board of governors has made its i am strongly inclined to think decision. here s my question for you. a number of constituents have that you need to hear all sides of a case. expressed the concern that we are going to end up with two when i was a private equity systems that are not fully investor, i used to speak against my own deals just to interoperable. employers andthat force people to defend them so i would really get a sense that i financial institutions and other per dispense would be plugged in believe in things. it is critical to have diverse two different systems, if they perspectives. are not fully interoperable, if you think about it, the there s a real concern that that reserve bank system guarantees is going to come at a minimum, from an institutional standpoint that we will always have diverse perspectives on mon