And, what i plan to do today is have dr. Griffin give opening remarks about his priorities and things that may or may not have changed since the last time we spoke and had a conversation. He and i will engage in backandforth and talk about what he mentioned in his opening remarks, and it is my hope to allow time for questions. Without further ado, dr. Griffin. Dr. Griffin it is a pleasure to be here. The last time i was here was in april of 2018. After i was two months was confirmed as the undersecretary, and it was still three months before i was the head of an actual Legal Organization within the department of defense. We were still working on establishing a charter and all of the bureaucratic things one does to convert legislation into executive branch institutions. Months since i have been here, we have been busy. We have filled out the senior bank levels of our organ senior levels of our organization. Porter you know dr. Lisa as well as our directors for Defense Research and engin
The committee will come to order. Without objection, the chair is authorized to declare recess of the committee at any time. This hearing is entitled Monetary Policy and the state of the economy. I recognize myself for four minutes to give an opening statement. Today this committee convenes for a hearing on Monetary Policy and the state of the economy. Chairman powell, welcome back. Today i would like to start by addressing the current elephant in the room when it comes to Monetary Policy and the fed. This president has made it clear that he has no understanding or respect for the independence of the Federal Reserve. He has said the fed, quote, doesnt have a clue, quote, unquote, called it the most difficult problem for the u. S. According to media reports, he discussed firing chairman powell because of policy he doesnt agree with. Lets be clear, it is essential that the Federal Reserve maintain its independence from the executive branch. So i urge chairman powell and other Federal Res
Is titled concern continued oversight on Regional Bank failures. Without objection, all members will have five legislative days to submit extraneous materials to the chair for inclusion in the record. Without objection, the chair is authorized to declare a recess of the committee at any time. With that, i now recognize myself for four minutes. Todays hearing will help the Financial Services committee learn more about recent Bank Failures, including management missteps, supervisory failures, and rapid fire bank runs in the age of social media. I think our witnesses for testifying today. The recent banking crisis was fueled by failed Bank Management, lack of hedges against Interest Rate risks, failed military policy, failed supervision, and overspending by the administration and democrats that led to historic inflation, prompting increased Monetary Policy action. Today, we will hear about what went wrong from the Bank Management themselves in state regulators. This is important, as the c
Against all of the political changes were seeing today, first i want to show you the Market Action. Stoxx 600 is sitting roughly flat, but weve seen interesting trading session where the nikkei really surging to the up side again today. More on that in a bit. Take a look at whats happening across europe because after a couple of uglier days in the market, were seeing something of a comeback now led by technology, Retail Stocks are also in the green, food and beverages, autos among the sectors dragging on the indek. We can take a closer look at the bourses. Ibex is down. Ftse 100 sam thing, so well keep an eye on all these levels as the show progresses this morning. The bond space is where weve been focusing our attention with spain and greece on. Spain today seeing prices rise, yields coming down to 5. 78 . Italy seeing a bit of a rally, too. Selloff for britain and bund oigs boig benefitting. Quick look at information rek. 81. 02 is the left. Down another tenth of a percent. Eurodolla
The chair yield to himself five minutes for questions. First, mr. Wilburn, thank you very much for the service to your country as i thank captain moak as well. I used to be, prior to coming to congress, an officer in the Green Energy Company itself. I dont know about your particular company but its a subject im highly interested in. But, mr. Wilburn, im still a little curious. I understand that you were on a flight, i guess, when you were sending your testimony. But i guess my first question is, was it simply a clerical mistake, or did you change your mind on whether or not t. A. R. P. Regulations in dodd frank played a role in failing to finance the Brazilian Company that sought your product . So is it a clerical error, or did you change your mind about including that in your testimony . No, its not a clerical error. I didnt have exactly all the facts. Youll see the rest of my written statement. I think it speaks to some of those issues surrounding what youre okay. Mr. Wilburn, you he