Dont miss our interview on the show with andrew wilson. Income also. We do have headlines from the prepared testimony of chair yelling. She says shes does not discuss Economic Outlook or rate policy, but in terms of fixed income, she writes the fed must stay vigilant of new risk to Financial Stability. The banks are considerably stronger since the crisis and to carefully monitor the impact of any rule changes. Examinations have found regional banks to be wellcapitalized. We are expecting her to field questions about the reasons why there have not been a supervisor vice chair of pointed by the Obama Administration and what might happen Going Forward in that regard. We are about 30 minutes into the trading day in the u. S. Julie so julie is a very small rally underway in u. S. Stocks. I should really call it little changed. A little higher as we go into janet yellen testimony. Energy shares are the best within the s p 500. It has been this with saw affect for oil over the past week as we
The committee will come to order. Without objection, the chair is authorized to declare a recess in the committee at any time. This hearing is entitled semiannual testimony on the Federal Reserve supervision and regulation of Financial System. I now recognize myself for three minutes to give an opening statement. As we all know the dodd frank act vastly increased the powers of the fed way beyond has traditional Monetary Policy responsibilities. The act has made the fed omnipotent but cannot make it omniscient. No act can. Through the exercise of socalled heightened prudential standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh recently wrote Central Bank Power is permissible in a democracy only when its scope limited, its track record strong and accountable assured. None of that do we observe today. Where his feds omnipotents has taken us . The big banks are bigger, Economic Growth lags and theres scant evidence our economy i
It is a large document. It goes back and forth. There were iterations that did not come out until late last night. People need time, you know. Regarding todays vote on individual programs, d. C. Do something that should be set forth . Well, its a notice and comment preceding. There will be a notice. There will be a comment period, then there will be a reply comments carried, then there will be how to make sense out of all of that. I do want to set an arbitrary date to it i dont. A small question. When would you expect the item to be resolved . I hope soon. I have a followup. Nice try, mikey. Questions or Public Safety, raise your hands. Public safety, come on up. The rest of my team comes up, some of you may of noticed yesterday we had a test of Emergency Alert system. Went out to the entire nation over 22000 stations have responded to us with results from the and were continuing to compile those results with our partners at fema and industry, as well as the states emergency communicat
The meeting is coming to order and were going to declare the recess at any time and its called sem annual system on the sup super vision and i recognize myself for three minutes to give an opening statement. As we know the act decreased way beyond the monetary responsibilities. The act is made the fed omnipotent. Through the exercise of the heightened standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh wrote that Central Bank Power is premisable when the scope is limited and the track record strong and the aaccount blt assured. None of that do we observe today where as the feds has taken us and the big banks are now bigger and the small banks are fewer and the Economic Growth lags and theres evidence that the economy is more stable. Two mu fed authorities granted under dod dx frank have been problematic. The see kra si make it impossible to measure the over sight or the integrity of the test findings. As columbia has testifie
Welcome to the new school. And the vice dean and social research rand welcome back to the university and sent from canada at end new mexico. I am pleased to introduce Courtney Jung whose new book lactivism how feminists and fundamentalists, hippies and yuppies, and physicians and politicians made breastfeeding big business and bad policy we are here to celebrate. The book was published last month in november. A professor of Political Science at university of toronto and has published two previous books in the moral force of indigenous politics, she has been a member in has received fellows steps from the National Endowment of of humanities. And the social Science Research council. To give an overview of her book and will respond with her remarks a professor and Political Science and the author of two books and inclusion without representation. In 2015 as day carnegie fellow with their International Relations from stanford. Before we began just won endorsement with of professor of philo