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Report and the state of the economstate of theeconomy before banking committee. This hearing begins with Committee Chairman tim johnson i call this hearing to order. This morning we welcome you back to the committee for testimony and the Federal Reserve semiannual Monetary Policy report to the congress. Since the chair was the last before the committee, Fisher Bernard and jerome were to effectively carry out the Monetary Policy and military functions. To that end, there are two remaining spots to be filled on the board and i hope for a swift nomination of qualified candidates with expertise in...

Lending such as debt to income and loan to value ratios. As a macro prudential tool that could slow mortgage lending. Im very skeptical that during a housing boom, regulators would ever act aggressively to restrict lending to individuals with high levels of debt or low incomes. In fact, recent experience suggests all the political pressures run counter to that happening. Its also highly questionable to think that forecasters will identify beforehand when these tools should be adjusted during the credit cycle. While Financial Stability can complement the goals of Monetary Policy, its paramount ...

People reach for yield now, and is an impetuous toward bubble creation and certain Asset Classes . It can be. Thats why we are watching very carefully. Is there any one particular air yaur worrying about right now in terms of asset bubbles . I mentioned leverage lending and corporate debt markets, especially lower rated companies. I think we are seeing deterioration in lending standards. We are attentive to risks that can develop that banks or others may be taking on Interest Rate risk. If Interest Rates, when Interest Rates ultimately begin to rise, that if firms or individuals have taken ris...

Wont disagree over some issues that were passionate about. We will. Congress will pass some bills i cannot sign. Im pretty sure ill take some actions some in congress will not like. Thats natural. Thats how our democracy works. We can find ways to Work Together on issues where theres broad agreement among the American People. So i look forward to republicans putting forward their governing agenda. I will offer my ideas on areas where i think we can move together to respond to peoples economic needs. So just take one example, we all agree on the need to create more jobs that pay well. Tradition...

Theres debris here in the roadway. Police cars are on randolph road. New hampshire avenue at randolph road. Theres a shot from one of the traffic cameras. New hampshire is closed near midland and wolf. Eastbound randolph is closed at vital way. Alternates are layhill road or columbia pike to get around that. Otherwise no major problems right now headed in or out of town. We have a little bit of a slowdown on d. C. 295. 65 in virginia, no problems there. Heading to Prince Georges county, looking good this morning. We do have a problem with a house fire on 11th street near south edison and South...