Not credible, thats a problem. I know youre in the process now. Do you have any idea what the time frame might be when youre nto the Second Chance . So last year working jointly sent very detailed evaluations the living wills to the firms. And directed the firms to take action to improve their resoveability that were quite specific. And quite detailed. Weve received those plans. Were evaluating them jointly with the fdic. And we will be making decisions in the coming months. The time of the gentleman has expired. The chair now recognizes the gentleman from michigan,. Thank you, mr. Chairman. I am happy to rescue you from the hostile questioning my democrat friend over there. Dont take it personally. He is that way with everybody. But i do actually want to kind of follow on on something that he had point of interest and frustration for a number of us speed g to do with the or lack thereof where there has been some very specific things that were laid out for the fed to do and specificall
Legislators. Most americans dont know who their state legislators are. There is an anti choice, rightwing majority that is able to do this state a state. About the much backlash against the changes in this country. That whitery clear women are not having enough children. Why the issue the issues go together. The antiimmigration, antibirth control, antiabortion, and so on. We have to take back our state legislature. Citing the example of working moms versus stayathome moms, a questioner asked what are your thoughts on the way women treat each other . If we were ever asked a question that included men, we might give a better answer. [laughter] do we ever ask a man, do you have it all . We need work patterns that allow everyone to work and also have a life and have kids if they want to. Men, to double oh. Men, too. The idea of stayathome moms the language is bananas. Women who work at home work harder than any other class of worker in the United States. Longer hours and no pay. [applause]
The kidney will likely reduce the payment of assets the committee will likely reduce the payment of assets. However its not on a preset course. Forward guidance on Interest Rates, the threshold of 6. 5 unemployment is still the language. But there is something new here. Maintain its current target range, especially runnflation continues to below the committees percent longerterm goal. Is Economic Activity expanding at a moderate pace, labor Market Conditions have shown pervert further improvement. Household spending, Business Investment advancing, while recovery in the housing sector slowed somewhat in recent months. Fiscal policies, restraint over Economic Growth may be running below inflation. The longerterm Inflation Expectations have remained stable. Finally, the Committee Sees the risk to the allocation of the labor economy. Inflation persistently below its two percent objective could pose a problem for Economic Performance. The vote here was not unanimous. Eric rosengren, the bos
October the congressman needed to extend the debt limit. We kept him closely informed literally every week. And there was not a negotiation over the debt limit. It was a question of congress figuring out how it was going to deal with the thing they had to deal with. That is protecting the full faith and credit of the United States. An budget conference is intrinsically congressional process. One of the few things that does not come to the president to be signed. The house and the senate agree on a resolution and it sets their government on how they will handle operations in budgetary matters. Budget Experts Consult with people on the hill and answer questions. It is intrinsically a congressional process. Clear. W is quite the president has budget is something he sticks by. It represents what he offered to the speaker at the end of last year. It is i think the right solution. We have to see where this conference goes. Lex let me ask you one specific issue on appropriations. Max baucus,
Interest rates and survey measures moved in ways broadly consistent with the guidance all now the date based Forward Guidance appears to have affected the expectations as desired. It did not explain how future policy would be affected by changes in the outlook. An important limitation. Indeed, the date and the guidance was pushed out twice in 2012, first in late 2014, and then mid2015, leaving the public unsure about weather and under what circumstances, further changes to the guidance might occur. In december of last year, the fomc addressed this issue, by tieing its Forward Guidance more directly to its economic objectives. Introducing socalled state contingent guidance, the committee announced for the first time that no increase should be anticipated so long as unemployment remained above 6 and a half , and Inflation Expectations remain stable and near target. This formulation provided greater clarity about the factors influencing the committees thinking, about future policy, and ho