[ gavel ] and i guess the the subcommittee will come to order. Without objection the chairs authorized to declare recess of the subcommittee at any time without objection. Members of the full committee not on the subcommittee authorized to participate in todays hearing. So long as they participate virtually and will be recognized after members of the subcommittee are recognized. Members who are participating via webex platform reminded to keep video function on at all times even if not recognized by the chair. Members participated by webex platform also reminded they are responsible for muting and unmuting themselves. And they should mute themselves both before and after the time that they are allotted. But in addition to that, consistent with regulations, the company and accompanies each res 965, staff will also be muting members when they are not recognized. Members are reminded that all house rules relating to order in decorum apply to this hybrid hearing. In addition, the chair inf
Jay powell in washington d. C. Sustained. We have to take those that macroeconomic effects into account as well. Those are some of my im not sure if i hit them all, but i ultimately, you know, youre coming into this with an economy that appears to have significant momentum,thats what we start with. But we do have this collection of risks that you mentioned. [inaudible] reporter craig torres from bloomberg news. I was a little surprised, chair powell, to hear you say that a soft landing is not a primary objective. This economy seeing added supply in a weight that could create longterm inflation stability. We have people adding skills, workers want to work, we have a boom in manufacturing construction. Weve had a decent spate of home building, and since inflations coming down with strong gdp growth, we may have higher productivity. All are good for the feds longerrun target of low inflation. And if we lose that in a recession, arent we opting for the awful history that we had in 2010 . S
Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the sec. Thank you, mr. Chairman, for attending here today. Oversight of the sec is a critical function of this committee and it has an important threepart mission, to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public a
Today we will receive testimony from securities and Exchange Commission chairman jay clayton regarding the work and the agenda of the sec. Thank you, mr. Chairman, for attending here today. Oversight of the sec is a critical function of this committee and it has an important threepart mission, to protect investors, maintain fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public a
Fair, orderly and efficient markets and facilitate capital formation. No one part of this mission is anymore important than the other. They increase transparency and trust in the u. S. Stock market, providing investors with what they need to make informed Investment Decisions. It also helps investors participate on a fair footing so that they can prepare for important milestones in their lives such as retirement, college or other life changing evep events. Its critical that the sec continue with this mission. At the same time it must be cognizant it could carry risks to the very investors it seeks to help. The commission collects and store as huge amount of public and nonpublic data. If this data were subject to a cyber breach, it could have severe consequences to the markets, market partis pants and to the American Public. I was disturbed to learn that the sec suffered a cyber breach of its edger system in 2016 but did not notify the public or even all of its commissioners until it wa