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
32 95 cents, plus shipping and handling. Every purchase supports our nonprofit operation. Scan the code on the right or go to cspanshop. Org to preorder your copy today for delivery this spring. I9 and now, Federal Reserve chair Jerome Powell testifying on the fed semiannual Monetary Policy report before the House Financial Services committee. He says that Economic Activity expanded at a strong pace over the past year with inflation lowering, unemployment and the u. S. Economy performing better than other countries. He also touched on the status of Interest Rates. This is about three hours. We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are annual monetary report. Without objection, all members have five days in which to submit extraneous materials for inclusion in record. I will note at the outset, we have a hard stop at 1 00 p. M. To the observed. I see chairman powell smile. Thats three hours. I will know recognize myself
We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are monetary report. Without objection, all members have five days in ich to submit extraneous materials for inclusion in the record. I will note at the outset, we ve a hardobserved. I see chairman powell smile. Thats three hours. I will know recognize myself for the opening statement. In june of 2023, the conversation in washingtons concerning inflation shifted significantly. Not because of the lectionary fire has been extinguished. From the most recent data available, food cost is up 21 as President Biden took office. Energy costs are up more than 32 . Shelter costs are of more than 19 and you will pay 37 more for a dozen eggs in america today. As we said in january, people are still paying more for the basics of life and the prices they are paying are still high. And they arent happy about it, as you know, it is our colleagues know. But according to the Biden Administration, t
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
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