Then with that, again, i thank the chairman and i now welcome our panel of witnesses. First, i would again like to welcome senator angus king, the former governor of maine, who served as cochair of this commission. Senator king currently sits on the Senate Armed Services committee and the committee on intelligence among others and has been a vocal leader on cybersecurity throughout his tenure. I welcome the senator here. Next, representative Mike Gallagher, cochair of the cyber Space Commission and current member of the house of representatives for the 8th district of wisconsin. Mr. Gallagher is a member of the house Armed Services committee and a former member of this committee. I also would like to welcome mr. Gallagher back to the committee again, back to congress after his paternity leave. I thank him for interrupting his paternity leave being with us. Again, congratulations on your daughter grace. In addition to being a huge packers fan, i know youre very proud as a father and for
Accountable. We are very honored to have as our guest today, senator brown, the senior United States senator from the state of ohio in the Ranking Member of the Senate Banking committee. Somebody who cares passionately about that we focus on and care about. I first met senator brown almost a decade ago in an aftermath of the Global Financial crisis part in fact the faculty directors, myself and my colleague testified about banking regulation before the subcommittee, senator brown shared in 2011 to 2015. Our country once again faces great many challenges. Looking forward to the perspective on how we go here where we go from here. Senator brown has dedicated his career to restoring what he, and a reference to doctor Martin Luther king, calls a dignity of work. Let me give you a few examples of how he puts his mantra into practice. The senator often wears a pin of a canary in a cage as a symbol of the day went minors brought canaries with them into the coal mines before we had any rules p
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
Prevented by the pricing council from determining the price. Basic products according to law guaranteed purchase. What exactly was the reason for the opposition of your representatives . According to the rules of the game, you specified the price by the end of july last week, and today was the last day. It has been notified, and it can be said from the schedule that it is at least one week behind your presence, in the name of allah. Mr. Alrahim did not object to the government representatives during the policy council of supportive purchases and guaranteed prices consisting of 9 members of this type, 6 members of the polyreaders and the majority of organizations are friends, and the members are voting , he may give opinions in some of components of full price calculation if there are any differences, whatever is summed up according to the opinion of the honorable minister of agricultural jihad , according to the Amendment Law that was promulgated in 2019, it will be announced by the ho
Bringing housing and affairs will come to order. Thank you from our eight witnesses today. Senator, thank you for your work on this. The eight bank ceos appearing before us today lead the biggest global systemically important banks of the United States of america, your banks hold nearly 15 trillion in assets, manage trillions of dollars of investments and retirement accounts, fund the Biggest Companies in our country. You hold nearly half the nations deposits, more than 80 trillion in client assets, your banks touch almost every aspect of our Financial System and working americans money, even if they are not your customers. All of that makes you eight of the most powerful people in the country, the banks iran are so large, so complex, so interconnected, that their distress or failure could pose a threat to the entire global Financial System. You may be private companies, but the risks you take and the mistakes you make dont just affect you, they dont even just affect your customers, no