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Financial services committee, here on cspan. There is inadvertent background noise. Members are also reminded that they may only participate in one remote proceeding at a time. If you are participating today, please keep your camera on. If you choose to attend a different remote receiving, please turn your camera off. As a reminder to all members, we will conclude todays hearing i better check the time before i give you that time members who are unable to ask questions in our february 24 hearing with Chair Powell will be given priority to ask their Questions Today. We will return to our normal order of recognition once those members have asked their questions. Before we begin, i will recognize myself to call up the resolution offered by ranking Member Mchenry. Copies of the resolution will be made available in advance. Without objection, the resolution is adopted. This hearing is entitled monetary policy and the state of the economy. I now recognize myself for four minutes to give an o
New-yorkUnited-statesArkansasGeorgiaMissouriTexasAtlantaKentuckyChinaBostonMassachusettsIllinoisThe last two years or so of the last expansion, and all of that in the context of low interest rates and monetary policy. I guess im just not seeing that i know the fed has a statutory obligation to promote Price Stability and maximum employment what are your thoughts on the relationship between monetary Policy And Inequality . What do you take to be your obligations with respect to Wealth Inequality . We dont take inequality as a mandate. We think we can we have these disparate which have gotten worse. We see those as weighing on the potential for the economy. I think everyone does. If you dont have a chance to take part in contributing to and then benefiting from the economy, then the economy is not all that it can be now what can the fed do . We can support maximum employment thats what we can do. We can push the Job Market to a place where consistent with our Price Stability obligations where jobs are widely available, really, though, were not we cant be the lead on it. Its fiscal
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