The board of governors of the Federal Reserve system and doctor christopher, the member of the board of governors in 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 in the 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 Reserve responsibility is conducting the nation Monetary Policy with the mandated promoting maximum employment, and moderate longterm Interest Rate. In addition to its Monetary Policy that oversees a significant portion of the sector including large, regional and Community Banks as well as certain nonbanks. It aims to foster a safe and efficient payment and settl
This hearing will come to order. This morning well consider the nominations of the honorable shelton to be a member of the board of governors of the Federal Reserve system and dr. Hristopher waller to be a member of the board of governors system. Federal reserve welcome and congratulations to each of you for your nominations. Family in the nd room today and i welcome them as well. Were fortunate to have these two highly qualified nominees today. Ng these positions are critical to nsuring a safe, sound and vibrant Financial System and to help the growing economy. The Federal Reserve was created by congress as the nations to promote a stable conomy and a safer, more flexible Financial System. Among the Federal Reserves responsibilities is conducting the nations Monetary Policy the mandate of promoting maximum employment, stable moderate long term Interest Rates. N addition to its Monetary Policy, a significant portion of the Banking Sector including and Community Banks as well as certain
Well, welcome, everyone. And good morning. We expect a few other members to arrive momentarily, but while were waiting, i think well begin with our Opening Statements. And id like to note that our committee is charged with overseeing the administration of federal elections. And todays hearing will help us fufill the responsibility by providing an opportunity to hear from the vendors of most of our countrys Voting Systems. This is the first time the ceos of the three major vendors have appeared together in a congressional hearing. The companies they represent provide at least 80 of the estimated 350,000 Voting Machines in use today reaching over 100 million registered voters. However, despite their outsized role and the mechanics of our democracy, some have accused these companies of obfuscating and others suggest theres an insufficient regulatory structure for the sector. In the committees may 2019 hearing on Election Security, Lawrence Norden wrote in his testimony, i quote, there are
Well, welcome, everyone. And good morning. We expect a few other members to arrive momentarily, but while were waiting, i think well begin with our Opening Statements. And id like to note that our committee is charged with overseeing the administration of federal elections. And todays hearing will help us fufill the responsibility by providing an opportunity to hear from the vendors of most of our countrys Voting Systems. This is the first time the ceos of the three major vendors have appeared together in a congressional hearing. The companies they represent provide at least 80 of the estimated 350,000 Voting Machines in use today reaching over 100 million registered voters. However, despite their outsized role and the mechanics of our democracy, some have accused these companies of obfuscating and others suggest theres an insufficient regulatory structure for the sector. In the committees may 2019 hearing on Election Security, Lawrence Norden wrote in his testimony, i quote, there are
Overseeing the administration of federal elections. And todays hearing will help us to fill the responsibility by providing an opportunity to hear from the vendors of most of our countrys Voting Systems. This is the first time the ceos of the three major vendors have appeared together in a congressional hearing. The companies they represent provide at least 80 of the estimated 350,000 Voting Machines in use today reaching over 100 million registered voters. However, despite their outsized role and the mechanics of our democracy, some have accused these companies of or f other suggest theres an insufficient regulatory structure for the sector. In the committees may 2019 hearing on Election Security, Lawrence Norden wrote in his testimony, i quote, there are more federal regulations for ballpoint pens and magic markers than there are for Voting Systems and other parts of our election infrastructure. So there may be more work to do and much for congress to learn about this industry. Many