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CSPAN3 Federal Reserve Chair Janet Yellen Testifies On Oversight Operations September 29, 2016

The committee will come to order. Without objection, the chair is authorized to declare a recess in the committee at any time. This hearing is entitled semiannual testimony on the Federal Reserve supervision and regulation of Financial System. I now recognize myself for three minutes to give an opening statement. As we all know the dodd frank act vastly increased the powers of the fed way beyond has traditional Monetary Policy responsibilities. The act has made the fed omnipotent but cannot make it omniscient. No act can. Through the exercise of socalled heightened prudential standards the fed can control the largest Financial Institutions in our economy. Former fed governor kevin warsh recently wrote
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The Office Fans Raise The Question Of Why Bob Vance And Phyllis Were At Roy's Wedding

Roy may not have had much of a relationship with Phyllis, but it s actually not a stretch of the imagination to assume he d be close with Bob Vance. In a… ....

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