Wednesday, March 4, 2015
FEDERAL RESERVE SYSTEM [FED] | KAREN HUDES ATTENDS SENATE BANKING COMMITTEE ~ SENATORS ~~DONNELLY~ WARNER~ BROWN~ CRAPO~ ROUNDER~ SCOTT~ SHELBY~ VITTER | BROWN? TWENTY-FIVE (25) PERCENT (%) "GDP" USA "FED" | VITTER? "MONOPOLY TREND?!" ~~FED"
I went to a hearing of the Senate Banking Committee yesterday on Reform of the Fed. Senators Donnelly, Warner, Brown, Crapo, Rounder, Scott, Shelby, and Vittner attended. Brown did mention that the size of the Fed was 25% of GDP and Vitter mentioned a monopoly trend. Otherwise, the discussion was a total disconnect from my briefing:
Karen Hudes @KarenHudes · Retweeting to the Senate Committee on Banking
After the hearing, I told staff of Jeb Hensarling, the Chair of the House Committee on Financial Services, that the denial of reality was discrediting the US Congress even further, if that were possible. Here is how I briefed the House for Janet Yellen