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Present, yee not present. You have a quorum. Ladies and gentle please join us in the pledge of allegiance. [pleage of allegiance] madam clerk either any Communications Clerk none to report colleagues any changes to the generate 26 2016 Board Meeting minutes clerk seen no changes, a motion to approve those minutes moved and seconded. Can we take that without objection . Those we passed after Public Comment [gavel] can you please read the consent agenda. Items one and 2 are on consent. These items are considered routine if a member objects, and item may be removed and considered separately seen ...

We are very, very happy to have congressman teeberry take over as vice chair. Welcome. I also want to welcome our distinguished chair of the Federal Reserve janet yellen and thank her for appearing before us this morning. This committee has a long tradition of receiving regular updates from the chair of the Federal Reserve and were pleased to be continuing that tradition today. U. S. Economy has struggled through a long season of at tted growth. Over that time, our economy has grown at a historically slow pace averaging 2. 2 per year. Some had suggested that a 2 growth rate is and will be the ...

Were interested in having the chairman address that issue also. These are some of the major issues we will discuss, and i certainly look forward to hearing chair yellens thoughts on this. There is also growing uncertainty that we should add to the occasion. Too many mornings we hear breaking news or pick up the newspaper and find headlines we dont want to read. That appears to be a spreading cancer not only in the United States but also throughout the world. And so the uncertainty that that levels and the impact that it has on economic policies is perhaps another issue that we ought to be disc...

Minutes. If we need a second round, we will try to accommodate that and also try to accommodate those that have had to run out for votes and will come back. Chair yellen, all of us sitting up here today would love to wake up to headlines in the wall street journal, headlines in the new york times, pictures on the front page of financial times. I have all these things that highlight you this morning as person of the day. I dont expect you have that same enthusiasm waking up every morning, but were certainly pleased to have you here today. I would like to turn to congresswoman maloney, our Ranki...

Its on our website. Its very powerful. Particularly think the three things katie talked about if ou look at the nature of the terrorist against the United States its all of the above. Every tactic technique that could potentially be available has been aimed at the United States which is important when you think about countering that. When everybody has an easy button answer, seal the border or keep out the refugees or end the visa waiver program. None of these are the terrorists just move on to something else. So in your programs toupt be efficacious and have due diligence. But somehow the not...