FEDERALhearing transcript

Senate Hearing on Federal Reserve Board Nominations

Original title: NOMINATIONS OF RICHARD CLARIDA AND MICHELLE W. BOWMAN

January 1, 2018

Federal Reserve Economic Policy Nominations Banking Regulation

Track this bill to get notified when it advances a stage. One tap to stop, anytime.

The Frame

What this does

This hearing represents the formal vetting process for two individuals nominated to lead the Federal Reserve, the institution responsible for setting U.S. monetary policy and overseeing the nation's banking system.

Who is mentioned in the record

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

Richard Clarida

The nominee is undergoing the Senate confirmation process for a position on the Federal Reserve Board.

Michelle W. Bowman

The nominee is undergoing the Senate confirmation process for a position on the Federal Reserve Board.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

The Senate Committee on Banking, Housing, and Urban Affairs held a hearing on May 15, 2018, to consider the s of Richard Clarida and Michelle W. Bowman to the . The hearing included opening statements, nominee introductions, and the submission of biographical and background materials for the record.

Key Facts

The hearing took place on May 15, 2018, in the Dirksen Senate Office Building.
Richard Clarida was nominated to be a Member and Vice Chairman of the Board of Governors of the Federal Reserve System.
Michelle W. Bowman was nominated to be a Member of the Board of Governors of the Federal Reserve System.
Richard Clarida previously served as Assistant Secretary of the Treasury for Economic Policy (2002-2003) and as a senior staff economist with the Council of Economic Advisers (1986-1987).
At the time of the hearing, Richard Clarida served as managing director and global strategic advisor at PIMCO.
The record includes responses to written questions from several Senators, including Senators Brown, Reed, Menendez, Warner, Warren, and Cortez Masto.
The record includes a list of Federal Reserve enforcement actions from January 2015 to May 2018.
The record includes letters of support for the nominees from various organizations, including the ICBA.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing was held to evaluate the qualifications of Richard Clarida and Michelle W. Bowman for their respective s to the Federal Reserve Board of Governors.

Who oversees the Federal Reserve nominations?

The Senate Committee on Banking, Housing, and Urban Affairs is responsible for reviewing these s.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

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

cross reference100% confidence

Historical Enforcement Data

The hearing record includes a specific list of Federal Reserve enforcement actions from 2015-2018, providing transparency into the regulatory environment at the time.

Federal Reserve System

Connected Entities

personMichelle W. Bowman“Nominee for Member of the Board of Governors of the Federal Reserve System.”Map →

organizationSenate Committee on Banking, Housing, and Urban Affairs“The committee responsible for conducting the nomination hearing.”Map →

organizationFederal Reserve System“The central banking system of the United States.”Map →

personMike Crapo“Chairman of the Senate Committee on Banking, Housing, and Urban Affairs.”Map →

personRichard Clarida“Nominee for Member and Vice Chairman of the Board of Governors of the Federal Re”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
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

Publisher tools