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Her term ands in february. Inwhen her term ends february. The committee will come to order. The chair is authorized to declare a recess of the committee at any time. Members will have five legislative days to submit extraneous materials for the record. This is the purpose of receiving the semiannual testimony of the chair of the board of governors of the Federal Reserve system on Monetary Policy on the estate on the state of the economy. Recognize myself for an opening statement. Since we last convened on Monetary Policy, there have been encouraging economic headlines. Onfidence is up unemployment remains low, as does inflation. But it rests too much on incredibly low participation payment high disability participation rights. Both paychecks and savings for working ....
We try not to opine on whether theyre correct or theyre not correct. But on, as you asked what the potential spillovers or impacts on Financial Stability could be of asset price revaluations, my assessment of that is that as asset prices have moved up, we have not seen a substantial increase in borrowing based on those asset price movements. We have a Financial System, a Banking System thats well capitalized and strong, and i believe its resilient. Okay. Thank you. Time of the gentle lady has expired. The chair now recognizes the gentleman from missouri, mr mr. Lucamire, chairman of the subcommittee. Thank you, mr. Chairman and thank you, madam chair, for being here today. As chairman of the Financial Institutions subcommittee, my concern is the overs ....
Economic condition and possible fed actions in the future. You look like nervous. Im much more nervous, like yeah. Yeah. At work it will be eight or nine days away, but it can happen any time. I hope so. Im better than that. Lets talk about schedules. The committee will come to order without objection and they declare a recess of the committee at any time. All members will have five legislative days within which to submit extraneous material to the chair for inclusion in the record. The hearing is for the purpose of receiving the semiannual testimony and the board of governors on the Federal Reserve system on Monetary Policy and the state of the economy. I now recognize myself for three minutes to give an opening statement. Since we last convened to take chair yellens on Monetary Policy, headline remains low as does i ....
Showa whose given name was hirohito. He wants to step down before hes too frail to carry out his duties. Hes already informed his family. One possible date for his address is august 8th. They say the emperor will express his feelings after the extraordinary session of the diet and an expected reshuffle of the cabinet. They say Agency Officials are considering a live tv broadcast so the emperor can speak to a wide audience. Hes expected to speak for around ten minutes from the imperial palace in central tokyo. There are no Legal Provisions for abdication under the japanese law governing the status of the emperor. So the emperor has decided to avoid using the word abdication but the sources say the emperors words will suggest his wishes. If the emperor expresses his feelings on live tv, it would be his first time to do so. After the major earthquake and tsunami that happene ....