FEDERALhearing transcript

House Subcommittee Hearing on Unconventional Monetary Policy

Original title: UNCONVENTIONAL MONETARY POLICY

January 1, 2018

monetary policy Federal Reserve economics financial regulation

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The Frame

What this does

The hearing provides a public record of expert testimony regarding how Federal Reserve policies influence the U.S. economy, interest rates, and financial stability.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Federal Reserve

The agency's policies were the subject of expert testimony and congressional oversight.

U.S. House Committee on Financial Services

The committee conducted the hearing to gather information for legislative oversight.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

This document is the official record of a December 7, 2016, hearing held by the House Subcommittee on Monetary Policy and Trade. The hearing focused on the economic impacts and implications of 'unconventional' monetary policies used by the Federal Reserve.

Key Facts

The hearing took place on December 7, 2016, in the Rayburn House Office Building.
The hearing was conducted by the Subcommittee on Monetary Policy and Trade, part of the House Committee on Financial Services.
Four expert witnesses provided testimony: John Taylor, Charles Plosser, Mickey D. Levy, and Simon Johnson.
The hearing record includes prepared statements from all four witnesses.
The record includes written responses to questions for the record from Mickey D. Levy and Charles Plosser.
The record includes written responses from Chair Janet Yellen regarding a previous hearing held on September 28, 2016.

Frequently Asked Questions

What is 'unconventional monetary policy'?

The term generally refers to tools used by central banks, such as the Federal Reserve, to stimulate the economy when standard interest rate adjustments are no longer effective.

Can I read the testimony provided at this hearing?

Yes, the document contains references to prepared statements from the witnesses which are included in the hearing's appendix.

Why It Matters

The hearing provides a public record of expert testimony regarding how Federal Reserve policies influence the U.S. economy, interest rates, and financial stability.

News Coverage

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Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

cross reference100% confidence

Historical Record Linkage

The hearing record includes follow-up responses from Chair Yellen regarding a separate hearing held months prior, showing the continuity of oversight.

Janet Yellen

Connected Entities

personCharles Plosser“Witness, former President of the Federal Reserve Bank of Philadelphia”Map →

personBill Huizenga“Chairman of the Subcommittee on Monetary Policy and Trade”Map →

personSimon Johnson“Witness, Professor at MIT Sloan School of Management”Map →

organizationSubcommittee on Monetary Policy and Trade“Congressional body conducting the hearing”Map →

personMickey D. Levy“Witness, Chief Economist at Berenberg Capital”Map →

personJohn Taylor“Witness, Professor of Economics at Stanford University”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance40
How much this matters to a regular citizen
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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