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[inaudible] a process for our economy. The Federal Reserve is one of the most important institutions in the country and, indeed, the world. Chair yellen served as president of San Francisco fed, then as vice chair, then as chair of the Federal Reserve board. Our distinguished service at the fed encompassed the most tumultuous time in the United States financial and economic systems since the great depression. Many books of artie been written about the events of this time and many more will certainly be written from different points of view. And with varying assessments. One thing is certain. The Financial System and the economy have stabilized. We are no longer debating how to reconstitute them, but rather ho ....
U. S. Banks have in standardized models. We have ongoing discussions on this issue and i think are coming closer to reaching agreement on this final issue which would let us finalize parcel three. This is not a question about changiapplied to foreign banks. But we have imposed we chose to impose standards on u. S. Banks, particularly systemically important banks that exceed the global minimums that we are agreed in parcel, those are expected to be an intended to be minimum requirements in individual countries that see a need and benefit from having Higher Standards are fully expected to adopt Higher Standards and in some cases, particularly with the largest and most systemically important u. S. Based bankings organizations, we have done that in imposing Higher Standards and think it is appropriate and warranted by ....
This is just under two hours. Welcome, everyone, to the hearing, and we will discuss the prospects for our economy. The Federal Reserve is one of the most important institutions in the country and, indeed, the world. Chair yellen served as president of San Francisco fed, then as vice chair, then as chair of the Federal Reserve board. Our distinguished service at the fed encompassed the most tumultuous time in the United States financial and economic systems since the great depression. Many books have already been written about the events of this time, and many more will certainly be written from different points of view. And with varying assessments. One thing is certain the Financial System and the economy h ....