Federal Reserve Reform

WASHINGTON – Today, Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee at the semiannual hearing entitled: Monetary Policy and the State of the Economy. Republican Leader of the House Financial Services Committee, Patrick McHenry (NC-10), began by highlighting the economy’s “remarkable growth” over the last two and a half years, and… Read more »

WASHINGTON – Today, Congressman Patrick McHenry (NC-10), Republican leader of the House Financial Services Committee, sent letters to the eight Inspectors General (IG) of the agencies within the committee’s jurisdiction requesting an update on the agencies’ efforts to implement the IGs recommendations to reduce waste, fraud, and abuse. Congressman McHenry highlighted the IGs “shared… Read more »

House Financial Services Committee Chairman Jeb Hensarling (R-TX) issued the following statement concerning Federal Reserve Chair Janet Yellen's decision to resign her seat on the Fed's Board of Governors once Jerome Powell replaces her as head of the nation's central bank: “Although we did not always agree on the Federal Reserve’s conduct of monetary policy, I have great respect for… Read more »

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing with Federal Reserve Chair Janet Yellen on the Semi-Annual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System: … Read more »

WASHINGTON- Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following opening statement at today’s full committee hearing to receive the Monetary Policy and State of the Economy report from Federal Reserve Chair Janet Yellen: Last month we all heard President Obama attempt to take an economic victory lap in… Read more »

"When is monetary policy going to be more predictable, more method based, and less improvisational...We need to understand what is the direction of monetary policy going forward." </center> Read more »

WASHINGTON -- A group of Nobel Prize winning economists and former senior economic policy officials announced their support for House-passed reforms that would make the Federal Reserve more accountable and transparent. The House approved the Fed Oversight Reform and Modernization Act (H.R. 3189, the FORM Act) in November. Among its… Read more »

WASHINGTON – Financial Services Committee Chairman Jeb Hensarling (R-TX) released the following statement about the Federal Reserve’s decision to raise its benchmark interest rate from near zero, where it has been since 2008: “The real question isn’t whether the Fed should be raising interest rates or lowering interest rates; it’s whether the Fed is giving our economy sustainable interest… Read more »

WASHINGTON - This week the House passed seven bills with bipartisan support from the Financial Services Committee.  Below is the list of bills passed by the House: H.R. 3189, the “Fed Oversight Reform and Modernization Act of 2015” Sponsor: Rep. Bill Huizenga (R-MI) H.R. 3189 would improve the economy’s performance by bringing greater accountability and transparency to the… Read more »

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered the following comments during the House’s debate on legislation to reform the Federal Reserve to make it more transparent and  accountable to the American people: I rise in strong support of H.R. 3189, the FORM Act, to reform the Federal Reserve. It is sponsored by the gentleman from Michigan, Mr.… Read more »