Press Release
McHenry Questions Fed Chairman PowellMcHenry Continues Push for Regulatory Relief, Financial Inclusion, and Innovation at Hearing with Federal Reserve Chairman Jerome Powell
Washington,
July 11, 2019
Yesterday, the House Financial Services Committee held its semi-annual hearing with Federal Reserve Chairman Jerome Powell on monetary policy and the state of the economy.
Congressman Patrick McHenry (NC-10), the Republican Leader of the Financial Services Committee, delivered opening remarks highlighting the positive economic trends as a result of Republican tax cuts and regulatory reform. McHenry went on to reiterate his concerns regarding global economic uncertainty, particularly the risks posed by the Chinese state-run economy, that could create headwinds for our economy here at home. Watch Congressman McHenry’s full opening statement here or by clicking on the image below. Later, Congressman McHenry questioned Chairman Powell on a range of topics, including what macroeconomic data would inform Powell’s decision as to whether the Fed would lower interest rates later this month. Additionally, ahead of the July 17th committee hearing on Facebook’s digital-currency project, Libra, McHenry asked the Chairman what regulatory barriers exist that deter blockchain technology from innovating in the United States. Ranking Member McHenry also pointed to the opportunity for increased financial inclusion, if the technology is employed correctly. Watch Congressman McHenry’s questioning of Chairman Powell here or by clicking on the image below. |