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FEDERALhearing transcript

High Impact

House Financial Services Committee Hearing on Monetary Policy and the Economy

Original title: MONETARY POLICY AND THE STATE OF THE ECONOMY

January 1, 2019

monetary policy economy Federal Reserve congressional oversight

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The Frame

What this does

This hearing serves as a formal oversight mechanism where the Federal Reserve Chairman accounts for national economic policy decisions that influence interest rates, inflation, and employment levels for all U.S. residents.

Who is mentioned in the record

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

Federal Reserve System

The agency is required to provide testimony and written responses to congressional inquiries regarding its monetary policy decisions.

U.S. Residents

Residents are affected by the monetary policy decisions discussed, which influence national interest rates, inflation, and economic stability.

What changed

Last recorded activity January 1, 2019.

What's next

Next step not available in the current record.

Summary

The House Committee on Financial Services held a hearing on February 27, 2019, to receive testimony from Federal Reserve Chairman Jerome Powell regarding the state of the U.S. economy and current . The session included an opening statement from Chairwoman Maxine Waters and the submission of various reports and responses to congressional inquiries into the record.

Key Facts

The hearing took place on February 27, 2019, in the Rayburn House Office Building.
Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, served as the primary witness.
The committee received the 'Monetary Policy Report of the Board of Governors of the Federal Reserve System' dated February 22, 2019.
The committee entered into the record written responses from Chairman Powell to questions submitted by Representatives Barr, Budd, Garcia, Gonzalez, Lynch, Posey, Steil, Stivers, and Tipton.
The committee entered into the record a data brief from the Center for Popular Democracy regarding the diversity of Federal Reserve Bank directors.
The hearing was conducted under the authority of the 116th Congress, Serial No. 116-5.

Frequently Asked Questions

What is the purpose of this hearing?

The hearing allows the House Committee on Financial Services to conduct oversight of the Federal Reserve's and assess the current state of the U.S. economy.

Who testified at this hearing?

Jerome H. Powell, the Chairman of the Board of Governors of the Federal Reserve System, provided testimony.

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.

policy shift90% confidence

Focus on Diversity

The inclusion of a report on the diversity of Federal Reserve Bank directors indicates a specific congressional interest in the internal representation of the Federal Reserve system.

Connected Entities

personJerome H. Powell“Chairman of the Board of Governors of the Federal Reserve System and primary wit”Map →

organizationHouse Committee on Financial Services“The congressional committee conducting the hearing.”Map →

personPatrick McHenry“Ranking Member of the House Committee on Financial Services.”Map →

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

personMaxine Waters“Chairwoman of the House Committee on Financial Services.”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance80
How much this matters to a regular citizen
Controversy40
Intensity of disagreement among stakeholders
Entertainment20
Compellingness for a non-policy-wonk reader
Buzz10
Current news / social attention level

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