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2016 4
Search Results 0 to 3 of about 4 (some duplicates have been removed)
. since the december rate hikes, stock markets have fallen and energy prices dropped while china and russia's economic problems continue. this is live on c-span3. should start in a moment. >>> committee will come to order. the chair can declare a recess at any time. this is to receive the semiannual testimony of the chair of the board of governors of the fed reserve system and the state of the economy. i now recognize myself for three minutes for an opening statement. last month weal all heard president obama attempt to take an economic victory lap in his state of the union speech but the american people are having none of it. they are tired of hearing from out of touch ruling class in washington just how good things are when their realities are vastly different. so chair yellen, not with standing the fact that you are a presidential appointee. i hope you don't follow suit. the fed em barked on ze ro real interest rate policies and equal today ty easing family paychecks' and net worth has declined. approximately 1 in 6 is on food stamps and almost 15% live in poverty. there hasn't be
much to treasury as china and japan combined. trying to figure out precisely about this approach where we bring this up in her opening statement to subsidize some of the biggest thing since our country with asset allocations and the fed funds rate is about 30 basis points you pay the banks 50 basis points for those that seem to be above the market rate. you previously testified this does not involve a subsidy but it appears to be in the store real asset allocations. >> the tools with short-term interest rates in to make central banks said it is the critical tool we need to rely on with the level of short-term rates with what we regard as appropriate stance with those mandated goals. i would point out to we are paying interest to banks on reserve those are large portfolios in the mortgage-backed securities that is substantially greater interest in the cousin of that large balance sheet to back to the treasury and the american taxpayers. >> is it true you pay 50 basis points? >> it is necessary to raise benchmark rates. >> my time has expired. >> continuing on the discussion is to do so
renminbi have intensified uncertainty about china's exchange rate policy and thecon. prospects for its economy. this uncertainty led to increased volatility in global incr financial markets and, against the background of persistenttenb weakness abroad, exacerbated concerns about the outlook for global growth. these growth concerns, along with strong supply conditions and high inventories, contributed to the recent fall in the prices of oil and other commodities. in turn, low commodity prices could trigger financial stresses in commodity-exporting economies, particularly in vulnerable emerging market economies, and for commodity-producing firms in many countries. should any of these downside risks materialize, foreign activity and demand for u.s. exports could weaken and financial market conditions could tighten further. of course, economic growth could also exceed our projections for a number of reasons, including i sibility that low oil easons prices will boost u.s. economicg growth more than we expect. ec present, the committee is. closely monitoring globalpect. economic and financia
Search Results 0 to 3 of about 4 (some duplicates have been removed)