Chair, Opening Statement of the Ranking Member, Opening Statement from chairwoman waters, the witness of will be introduced, witnesses were given Opening Statement then will have two and a of witnesses and adjournment. The title of todays hearing is protecting homeowners during the pandemic oversight of mortgage servicers implementation of the cares act. Without objection that shares authorized to declare a recess of the subcommittee at any time. Also without objection members of the committee who are not members of the subcommittee may participate in todays hearing for the purposes of making an Opening Statement and asking questions of witnesses. Members are reminded to keep their video function on at all times, even when they are not recognized by the chair. Members are also reminded they are responsible for muting and and getting themselves. I think this is something thats worthy of repeating because i have made the mistake of not honoring this responsibility. I hope i dont make tha
Any Federal Reserve chairman in the postwar period, or at least one of the best about 2 average inflation. So we have worked on both sides of the mandate, and were trying to achieve a stronger economy for everybody. Reporter and for now, at least, markets believe bernanke can keep his inflationfighting streak alive. That is something that is worth pointing out to the critics that say the fed is creating all sorts of inflation pressures. For the moment, there is no evidence of that. He was in very firm territory in making that point. Reporter bernanke was firm in making another point. He called on congress and the president to replace the immediate sequester spending cuts with a more gradual reduction in the deficit. But it doesnt appear anyone in washington is ready to take his advice. Darren gersh, nbr, washington. Tom michael farr is the president of Wealth Management firm farr, miller and washington. He joins us from washington, d. C. Tom lots going on in that building behind you, m
Strategy, but bernanke offered a Strong Defense for the program thats aimed at keeping Interest Rates low. The risks, he said, were manageable. Hope the fed would continue its easy efforts to stimulate the economy had u. S. Markets seeing green. The dow gained 116, the nasdaq is up 13, and the s p rose nine. Washington bureau chief darren gersh has details on the fed chairmans Strong Defense of his aggressive policy to support the economy. Reporter sure, there are risks when the Federal Reserve is buying almost 3 billion worth of bonds every day. But chairman ben bernanke told congress basically, we got this. Although a long period of low rates could encourage excessive risk taking, and continued close attention to such developments is certainly warranted, to this point, we do not see potential costs to the increased risk taking in some Financial Markets is outweighing the benefits of promoting a Stronger Economic recovery and more rapid job creation. Reporter with unemployment stuck a
Any Federal Reserve chairman in the postwar period, or at least one of the best about 2 average inflation. So we have worked on both sides of the mandate, and were trying to achieve a stronger economy for everybody. Reporter and for now, at least, markets believe bernanke can keep his inflationfighting streak alive. That is something that is worth pointing out to the critics that say the fed is creating all sorts of inflation pressures. For the moment, there is no evidence of that. He was in very firm territory in making that point. Reporter bernanke was firm in making another point. He called on congress and the president to replace the immediate sequester spending cuts with a more gradual reduction in the deficit. But it doesnt appear anyone in washington is ready to take his advice. Darren gersh, nbr, washington. Tom michael farr is the president of Wealth Management firm farr, miller and washington. He joins us from washington, d. C. Tom lots going on in that building behind you, m
In recent weeks, fed officials have raised worries about the strategy, but bernanke offered a Strong Defense for the program thats aimed at keeping Interest Rates low. The risks, he said, were manageable. Hope the fed would continue its easy efforts to stimulate the economy had u. S. Markets seeing green. The dow gained 116, the nasdaq is up 13, and the s p rose nine. Washington bureau chief darren gersh has details on the fed chairmans Strong Defense of his aggressive policy to support the economy. Reporter sure, there are risks when the Federal Reserve is buying almost 3 billion worth of bonds every day. But chairman ben bernanke told congress basically, we got this. Although a long period of low rates could encourage excessive risk taking, and continued close attention to such developments is certainly warranted, to this point, we do not see potential costs to the increased risk taking in some Financial Markets is outweighing the benefits of promoting a Stronger Economic recovery an