Complex Event Analysis - Report 2020/02/27

Momentum supporting factors

(economy, fed, federal_reserve)

(economy, employment, fed)

(employment, fed)

(employment, fed, federal_reserve)

(employment, federal_reserve)

(economy, fed, solvency)

(fed, federal_reserve, solvency)

(congress, policy)

(economic, labor, policy)

(economic, policy, workforce)

Challenge supporting factors

(banks, economy, federal_reserve)

(employment, fed)

(economy, risks)

(banks, economy)

(fed, unemployment)

(economy, monetary, policy)

(economy, fed, policy)

(fed, monetary)

(economy, employment, fed)

(economy, employment, policy)

Work-in-progress supporting factors

(economy, growth, policy)

(economy, policy, trade)

(economy, lag, policy)

(economic, economy, policy)

(economy, global, growth)

(economy, global)

(growth, trade)

(policy, trade)

(economic, policy, trade)

(growth, policy)

Complex Event Time Series Summary - REPORT

Time Period	Challenge	Momentum	WIP
Report 2020/02/27	34.80	6.03	59.18

High Level Abstraction (HLA) combined

High Level Abstraction (HLA)	Report 2020/02/27
(1) (economy,growth,policy)	100.00
(2) (economy,policy,trade)	68.20
(3) (economy,monetary,policy)	62.72
(4) (economy,lag,policy)	61.84
(5) (economic,economy,policy)	58.41
(6) (employment,fed)	55.40
(7) (economic,monetary,policy)	55.14
(8) (policy,trade)	54.40
(9) (banks,economy)	53.18
(10) (economy,global,growth)	50.69
(11) (economy,global)	48.55
(12) (growth,policy)	48.09
(13) (growth,trade)	48.08
(14) (economy,federal_reserve,risks)	46.49
(15) (economy,employment,fed)	45.77
(16) (economy,fed,federal_reserve)	43.47
(17) (economy,risks)	41.97
(18) (fed,unemployment)	41.96
(19) (banks,economy,federal_reserve)	41.94
(20) (economic,policy,trade)	41.18
(21) (economic,growth,policy)	40.77
(22) (employment,monetary)	40.21
(23) (economic,growth)	39.27
(24) (capital,economy)	38.74
(25) (employment,policy)	38.47
(26) (federal_reserve,growth)	38.31
(27) (economic,monetary)	37.66
(28) (economy,wage)	37.17
(29) (economy,interest)	36.07
(30) (growth,wage)	35.68
(31) (policy,wage)	35.50
(32) (economic,economy,trade)	34.95
(33) (economy,growth,trade)	34.56
(34) (economy,fed,supervisory)	34.29
(35) (economic,economy,expansion)	34.21
(36) (china,economic,economy)	32.29
(37) (economy,growth,usmca)	32.25
(38) (economy,policy,usmca)	31.89
(39) (growth,usmca)	31.76
(40) (economic,policy,usmca)	31.65
(41) (global,growth)	31.51
(42) (economy,fed,policy)	30.73
(43) (fed,monetary)	30.45
(44) (economy,employment,policy)	30.16
(45) (banks,risks)	29.82
(46) (economic,economy,growth)	29.78
(47) (crisis,economy,fed)	29.00
(48) (fed,wage)	28.57
(49) (economic,economy,wage)	28.23
(50) (economy,growth,wage)	27.84
(51) (china,economy)	27.68
(52) (economy,policy,wage)	27.48
(53) (economic,policy,wage)	27.03
(54) (economy,fed,unemployment)	26.97
(55) (economy,policy,unemployment)	26.60
(56) (economy,federal_reserve,the_federal_reserve)	26.44
(57) (economy,growth,the_federal_reserve)	26.18
(58) (economy,policy,the_federal_reserve)	25.83
(59) (federal_reserve,risks)	24.82
(60) (interest,policy)	24.79
(61) (economy,growth,workforce)	24.74
(62) (economy,federal_reserve,the_fed)	24.50
(63) (economy,growth,the_fed)	24.24
(64) (congress,policy)	23.97
(65) (economy,growth,space_economy_satellite_account)	23.94
(66) (economy,growth,recall)	23.65
(67) (fed,federal_reserve,speech)	23.56
(68) (federal_reserve,speech)	23.42
(69) (banks,capital)	23.22
(70) (economic,economy,governor)	22.72
(71) (economy,fed,governor)	22.40
(72) (economy,federal_reserve,governor)	22.13
(73) (fed,federal_reserve,governor)	21.94
(74) (fed,interest)	21.37
(75) (economic,economy,weather)	20.56
(76) (employment,fed,federal_reserve)	20.37
(77) (employment,federal_reserve)	20.32
(78) (banks,crisis)	20.26
(79) (economy,fed,weather)	20.25
(80) (economy,federal_reserve,weather)	19.97
(81) (fed,federal_reserve,weather)	19.79
(82) (economic,economy,supervisory)	19.73
(83) (global,policy)	19.33
(84) (federal,policy)	19.20
(85) (economy,federal_reserve,supervisory)	19.13
(86) (banks,interest)	18.99
(87) (fed,federal_reserve,supervisory)	18.94
(88) (economy,federal_reserve,suntrust)	18.85
(89) (fed,inflation)	18.80
(90) (economy,federal_reserve,spillover)	18.63
(91) (economic,economy,speech)	18.44
(92) (crisis,fed)	18.36
(93) (economy,fed,speech)	18.11
(94) (economy,federal_reserve,speech)	17.85
(95) (economic,economy,usmca)	17.56
(96) (monetary,policies,policy)	16.67
(97) (economic,expansion,policy)	16.60
(98) (individuals,monetary,policy)	16.48
(99) (economic,economy,united_states)	15.64
(100) (economic,policies,policy)	15.55
(101) (fed,risks)	15.05
(102) (economy,fed,solvency)	14.05
(103) (fed,federal_reserve,solvency)	13.81
(104) (economy,fed,sir)	13.74
(105) (policy,regulatory)	13.66
(106) (fed,federal_reserve,sir)	13.50
(107) (economy,fed,san_francisco_fed)	13.43
(108) (interest,monetary)	13.09
(109) (cra,fed,federal_reserve)	12.09
(110) (interest,monetary,policy)	11.61
(111) (capital,crisis)	10.88
(112) (congress,monetary)	10.45
(113) (fed,growth)	10.23
(114) (capital,liquidity)	9.74
(115) (banks,keep)	9.12
(116) (fed,influence)	8.84
(117) (congress,monetary,policy)	8.70
(118) (fed,governments)	8.67
(119) (monetary,wage)	8.53
(120) (monetary,policy,wage)	8.52
(121) (monetary,policies)	8.49
(122) (monetary,outlook,policy)	8.31
(123) (labor,monetary,policy)	8.28
(124) (growth,monetary,policy)	7.85
(125) (capital,regulatory)	7.61
(126) (federal_reserve,regulatory)	7.50
(127) (economic,policy,regulatory)	7.28
(128) (economic,labor,policy)	7.05
(129) (banks,federal_reserve)	6.94
(130) (economic,policy,workforce)	6.90
(131) (capital,risk)	6.81
(132) (economic,policy,the_fomc)	6.78
(133) (fed,federal_reserve,wage)	6.36
(134) (capital,insurance)	6.16
(135) (cra,federal_reserve)	6.01
(136) (capital,fsoc)	5.92
(137) (fed,federal_reserve,growth)	5.83
(138) (governments,monetary)	5.67
(139) (capital,colleagues)	4.99
(140) (federal_reserve,governments)	4.30
(141) (banks,the_fed)	3.54
(142) (capital,federal_reserve)	2.81
(143) (capital,supervisory)	2.68
(144) (capital,shareholders)	2.61
(145) (capital,misallocation)	2.56
(146) (banks,policy)	2.38
(147) (banks,fed)	1.96
(148) (banks,volcker_rule)	1.86
(149) (growth,jobs)	1.78
(150) (banks,regulators)	1.72
(151) (economy,monetary)	1.52
(152) (gao,monetary)	1.39
(153) (monetary,political)	1.37
(154) (growth,monetary)	0.87
(155) (growth,spending)	0.64
(156) (growth,productivity)	0.57
(157) (federal_reserve,policy)	0.33
(158) (growth,labor)	0.28
(159) (federal_reserve,monetary)	0.05

Complex Event Analysis - REPORT 2020/02/27

Supporting narratives:

momentum (Read more)

We focus on the job you've given us, which is maximum employment and stable prices and to some extent also we're with other agencies who work on financial stability and bank supervision, as opposed to the solvency of state and local governments.
Ms. Tlaib: (01:49:27)
Yes or no, the Federal Reserve retains the ability to open emergency lending facilities. Is that accurate in stabilizing the economy.
Jerome Powell: (01:49:37)
Well, yes, to financial institutions we do.
Ms. Tlaib: (01:49:42)
Uh-huh (affirmative), so when the Fed step into rescue banks in a crisis, is that because you believe their role in the economy is vital.
Jerome Powell: (01:49:49)
It's really because we had no choice to prevent the financial system from collapsing in 2007 and 8.
Ms. Tlaib: (01:49:54)
Yeah, no, I mean my city filing bankruptcy was devastating to so many retirees, sir
High Level Abstractions:

(economy,fed,federal_reserve)
Inferred entity relationships (98)
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(federal_reserve,growth) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

momentum (Read more)

We focus on the job you've given us, which is maximum employment and stable prices and to some extent also we're with other agencies who work on financial stability and bank supervision, as opposed to the solvency of state and local governments.
Ms. Tlaib: (01:49:27)
Yes or no, the Federal Reserve retains the ability to open emergency lending facilities
High Level Abstractions:

(employment,federal_reserve)
(federal_reserve,governments)
(governments,monetary)
(employment,fed)
(fed,federal_reserve,solvency)
(economy,fed,solvency)
(fed,governments)
(employment,fed,federal_reserve)
(economy,employment,fed)
Inferred entity relationships (111)
(monetary,policies) [inferred]
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(employment,federal_reserve) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(employment,fed,federal_reserve) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(monetary,policies,policy) [inferred]
(federal_reserve,growth) [inferred]
(economy,federal_reserve,risks) [inferred]
(monetary,outlook,policy) [inferred]
(governments,monetary) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(employment,policy) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(employment,fed) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(monetary,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(employment,monetary) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(monetary,political) [inferred]
(economy,growth,the_fed) [inferred]
(monetary,policy,wage) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

momentum (Read more)

The prime age labor force participation has reached 2.2 million people that were previously out of the workforce and not surprisingly consumer confidence has increased dramatically since the month before the president's election.
Mr. McHenry: (00:36)
Every member of Congress should celebrate these remarkable outcomes, which have resulted from Republican leadership on pro-growth policies like tax reform and regulatory rightsizing
High Level Abstractions:

(congress,policy)
(economic,policy,workforce)
(economic,labor,policy)
Inferred entity relationships (48)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(economic,economy,united_states) [inferred]
(labor,monetary,policy) [inferred]
(congress,monetary,policy) [inferred]
(economic,economy,speech) [inferred]
(policy,regulatory) [inferred]
(policy,wage) [inferred]
(economic,monetary) [inferred]
(economic,regulatory) [inferred]
(economic,policy,trade) [inferred]
(economic,economy,trade) [inferred]
(economic,growth) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(economic,policy,workforce) [inferred]
(economic,growth,policies) [inferred]
(policy,trade) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economic,reform) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economic,growth,positive) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(congress,monetary) [inferred]
(economic,economy,weather) [inferred]
(economic,economy,wage) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(economic,markets) [inferred]
(economic,monetary,policy) [inferred]
(economic,economy,policy) [inferred]

momentum (Read more)

It does play into our work, however, as it relates to the public's very reasonable expectation that we would make sure that the financial sector, the banks and the utilities that we supervise, are resilient against the longer term risks from climate change.
High Level Abstractions:

(banks,risks)
Inferred entity relationships (12)
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(banks,the_fed) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

momentum (Read more)

And that the rule was intended to limit banks from engaging in risky investment activities that could contribute to a future financial crisis.
Jerome Powell: (02:21:49)
So we did just put out a proposal on part of the Volcker Rule.
High Level Abstractions:

(banks,volcker_rule)
Inferred entity relationships (12)
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,keep) [inferred]
(banks,the_fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

momentum (Read more)

And that the rule was intended to limit banks from engaging in risky investment activities that could contribute to a future financial crisis.
Jerome Powell: (02:21:49)
So we did just put out a proposal on part of the Volcker Rule
High Level Abstractions:

(banks,crisis)
Inferred entity relationships (14)
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(crisis,economy,fed) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(banks,the_fed) [inferred]
(crisis,fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

momentum (Read more)

What this exemption does is it prevents the GAO from coming in and looking at and assessing individual monetary policy decisions, which Congress saw fit, you saw fit, your Congress saw fit, to carve out of law.
High Level Abstractions:

(congress,monetary)
Inferred entity relationships (8)
(monetary,wage) [inferred]
(congress,policy) [inferred]
(monetary,policies) [inferred]
(congress,monetary,policy) [inferred]
(monetary,outlook,policy) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(monetary,policy,wage) [inferred]

momentum (Read more)

What this exemption does is it prevents the GAO from coming in and looking at and assessing individual monetary policy decisions, which Congress saw fit, you saw fit, your Congress saw fit, to carve out of law
High Level Abstractions:

(gao,monetary)
Inferred entity relationships (6)
(monetary,wage) [inferred]
(monetary,policies) [inferred]
(monetary,outlook,policy) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(monetary,policy,wage) [inferred]

momentum (Read more)

Productivity gains have been subpar throughout this long economic expansion. Finding ways to boost labor force participation and productivity growth would benefit Americans and should remain a national priority.
Jerome Powell: (11:34)
I'll turn now to monetary policy
High Level Abstractions:

(economic,growth)
(growth,labor)
(growth,productivity)
Inferred entity relationships (78)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(growth,productivity) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(economic,economy,united_states) [inferred]
(labor,monetary,policy) [inferred]
(growth,service) [inferred]
(economic,economy,speech) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(economic,monetary) [inferred]
(growth,institutional) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(economic,regulatory) [inferred]
(economic,policy,trade) [inferred]
(economic,economy,trade) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(growth,top-line) [inferred]
(growth,omb) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(economic,policy,workforce) [inferred]
(growth,workers) [inferred]
(economic,growth,policies) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economic,reform) [inferred]
(growth,performance) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(growth,year-over-year) [inferred]
(economic,growth,positive) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(growth,usmca) [inferred]
(economic,economy,weather) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economic,economy,wage) [inferred]
(growth,president_obama) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(growth,tts) [inferred]
(economic,markets) [inferred]
(economic,monetary,policy) [inferred]
(economic,economy,policy) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

challenge (Read more)

Did the Fed consider how raising rates would disproportionately impact those who are already struggling to secure employment, like communities of color, individuals who were formally incarcerated, our immigrant neighbors.
Jerome Powell: (02:53:50)
I would say that unemployment has continued to go down quite significantly since we began to raise rates at the end of 2016, actually the end of 15.
Ms. Pressley: (02:54:03)
But again, did the Fed consider how raising rates would disproportionately impact those who were already struggling to secure employment.
Jerome Powell: (02:54:10)
I think our consideration was really that the right thing to do is to get monetary policy back toward a place where it reflected an economy that had recovered quite a bit for the benefit of all people, including low and moderate income people, including my minorities.
Ms. Pressley: (02:54:25)
There's a lot of people still recovering, but in interest of time, given that there have been no signs of the economy overheating since then and you're now cutting rates, is it possible you began cutting rates too soon.
Jerome Powell: (02:54:39)
I think history will judge that
High Level Abstractions:

(economy,fed,policy)
(fed,monetary)
(employment,policy)
(interest,monetary,policy)
(fed,interest)
(economy,monetary,policy)
(interest,monetary)
(employment,monetary)
(interest,policy)
(employment,fed)
(economy,policy,unemployment)
(economy,interest)
(economy,employment,policy)
(economy,fed,unemployment)
(fed,unemployment)
(individuals,monetary,policy)
(economy,monetary)
(economy,employment,fed)
Inferred entity relationships (110)
(monetary,policies) [inferred]
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(policy,wage) [inferred]
(employment,federal_reserve) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(employment,fed,federal_reserve) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(interest,monetary) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(monetary,policies,policy) [inferred]
(economy,federal_reserve,risks) [inferred]
(monetary,outlook,policy) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(employment,policy) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(employment,fed) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(individuals,security) [inferred]
(economy,growth,workforce) [inferred]
(employment,monetary) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(monetary,political) [inferred]
(economy,growth,the_fed) [inferred]
(monetary,policy,wage) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

challenge (Read more)

Even though our data is limited coming out of China, and the limited data we have we questioned still, we should reflect appropriately upon what we know and how we respond as the American government and to the Western world in response to these threats, both cyber and health risks and the spillover effect it has on our economy.
Mr. McHenry: (04:11)
Again, Chairman Powell, thank you for being here
High Level Abstractions:

(economy,federal_reserve,risks)
(federal_reserve,risks)
(china,economy)
(economy,risks)
(economy,federal_reserve,spillover)
Inferred entity relationships (83)
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(federal_reserve,monetary) [inferred]
(china,economic,economy) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(federal_reserve,growth) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(federal_reserve,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

challenge (Read more)

Of course, as you suggest, as severe weather becomes more common and that's connected to climate change, you will see those things of entering the forecast period and certainly entering our, our supervisory practices, as well as our economic forecasting.
Mr. Garcia: (02:31:18)
In a recent speech at the San Francisco Fed's conference and the economics of climate change, a fed a governor, Lael Brainard said, "By participating more actively in climate related research and practice, the Federal Reserve can be more effective in supporting a strong economy and a stable financial system." Do you agree with governor Brainard's statement
High Level Abstractions:

(economic,economy,speech)
(fed,federal_reserve,weather)
(federal_reserve,speech)
(economic,economy,governor)
(economy,federal_reserve,weather)
(economy,fed,san_francisco_fed)
(economic,economy,supervisory)
(economy,fed,speech)
(economy,federal_reserve,speech)
(economy,fed,federal_reserve)
(economy,fed,supervisory)
(economy,fed,weather)
(fed,federal_reserve,governor)
(fed,federal_reserve,speech)
(economic,economy,weather)
(economy,federal_reserve,governor)
(economy,federal_reserve,supervisory)
(economy,fed,governor)
(fed,federal_reserve,supervisory)
Inferred entity relationships (141)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(economic,regulatory) [inferred]
(federal_reserve,monetary) [inferred]
(economic,economy,trade) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(economic,growth,policies) [inferred]
(federal_reserve,growth) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economic,growth,prioritize) [inferred]
(economy,jobs,wage) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economic,economy,wage) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economic,monetary,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,economy,policy) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(fed,unemployment) [inferred]
(economic,growth,trump) [inferred]
(economy,president_trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economic,growth) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(economic,policy,workforce) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economic,growth,positive) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economic,economy,expansion) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economic,policies,policy) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(fed,federal_reserve,sir) [inferred]
(economic,gdp) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economic,economy,governor) [inferred]
(economy,reform,republican) [inferred]
(economic,markets) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

challenge (Read more)

Is that accurate in stabilizing the economy.
Jerome Powell: (01:49:37)
Well, yes, to financial institutions we do.
Ms. Tlaib: (01:49:42)
Uh-huh (affirmative), so when the Fed step into rescue banks in a crisis, is that because you believe their role in the economy is vital.
Jerome Powell: (01:49:49)
It's really because we had no choice to prevent the financial system from collapsing in 2007 and 8.
Ms. Tlaib: (01:49:54)
Yeah, no, I mean my city filing bankruptcy was devastating to so many retirees, sir
High Level Abstractions:

(banks,economy,federal_reserve)
(crisis,fed)
(banks,economy)
(banks,fed)
(banks,crisis)
(crisis,economy,fed)
Inferred entity relationships (114)
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(banks,regulators) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(crisis,economy,fed) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(banks,interest) [inferred]
(economy,growth,trade) [inferred]
(banks,economy) [inferred]
(federal_reserve,growth) [inferred]
(economy,federal_reserve,risks) [inferred]
(banks,volcker_rule) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(banks,the_fed) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(banks,crisis) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(crisis,fed) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,fed,speech) [inferred]
(banks,federal_reserve) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(banks,risks) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(banks,capital) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

challenge (Read more)

Three months ago, the Federal Reserve approved a merger between BB&T and SunTrust, which created the sixth largest bank in the US with more than 450 billion in total assets, and the Federal Reserve's own research suggests that the failure of a single 250 billion bank would be far worse for the economy than the failure of five separate $50 billion banks.
High Level Abstractions:

(banks,economy,federal_reserve)
Inferred entity relationships (94)
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(banks,policy) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(banks,regulators) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(federal_reserve,monetary) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(banks,interest) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(banks,economy) [inferred]
(federal_reserve,growth) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(banks,volcker_rule) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(banks,federal_reserve) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(banks,risks) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(banks,capital) [inferred]
(federal_reserve,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

challenge (Read more)

Three months ago, the Federal Reserve approved a merger between BB&T and SunTrust, which created the sixth largest bank in the US with more than 450 billion in total assets, and the Federal Reserve's own research suggests that the failure of a single 250 billion bank would be far worse for the economy than the failure of five separate $50 billion banks
High Level Abstractions:

(banks,federal_reserve)
(economy,federal_reserve,suntrust)
Inferred entity relationships (93)
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(banks,regulators) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(federal_reserve,monetary) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(banks,interest) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(banks,economy) [inferred]
(federal_reserve,growth) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(banks,fed) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(banks,risks) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(banks,capital) [inferred]
(federal_reserve,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

challenge (Read more)

Is that accurate in stabilizing the economy.
Jerome Powell: (01:49:37)
Well, yes, to financial institutions we do.
Ms. Tlaib: (01:49:42)
Uh-huh (affirmative), so when the Fed step into rescue banks in a crisis, is that because you believe their role in the economy is vital.
Jerome Powell: (01:49:49)
It's really because we had no choice to prevent the financial system from collapsing in 2007 and 8.
Ms. Tlaib: (01:49:54)
Yeah, no, I mean my city filing bankruptcy was devastating to so many retirees, sir.
High Level Abstractions:

(economy,fed,sir)
(fed,federal_reserve,sir)
Inferred entity relationships (98)
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(federal_reserve,growth) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

challenge (Read more)

Three months ago, the Federal Reserve approved a merger between BB&T and SunTrust, which created the sixth largest bank in the US with more than 450 billion in total assets, and the Federal Reserve's own research suggests that the failure of a single 250 billion bank would be far worse for the economy than the failure of five separate $50 billion banks. Furthermore, the former FDIC chair, Mr. Gruenberg, has warned that the FDIC would not be able to wind down a bank the size of the combined BB&T SunTrust without imposing significant losses on the deposit insurance fund and potentially destabilizing the financial system in this light, can the Federal Reserve justify it's conclusion that "This transaction would not appear to result in meaningfully greater or more concentrated risks to the stability of the financial system."
Jerome Powell: (02:33:23)
Yes, I think we can and I think we did
High Level Abstractions:

(banks,economy)
Inferred entity relationships (87)
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(banks,regulators) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(banks,interest) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(banks,volcker_rule) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(banks,federal_reserve) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(banks,risks) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(banks,capital) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

challenge (Read more)

Of course, as you suggest, as severe weather becomes more common and that's connected to climate change, you will see those things of entering the forecast period and certainly entering our, our supervisory practices, as well as our economic forecasting.
Mr. Garcia: (02:31:18)
In a recent speech at the San Francisco Fed's conference and the economics of climate change, a fed a governor, Lael Brainard said, "By participating more actively in climate related research and practice, the Federal Reserve can be more effective in supporting a strong economy and a stable financial system." Do you agree with governor Brainard's statement. If yes, what more will the Fed do in the future to identify and mitigate the financial risks of climate change.
Jerome Powell: (02:31:51)
I do think it's incumbent on us to do the research and understand the implications of climate change for our supervisory roles and our roles in looking after financial stability
High Level Abstractions:

(economy,risks)
Inferred entity relationships (74)
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

challenge (Read more)

We lowered the federal funds target range at our July, September, and October meetings, bringing the current target range to one and a half to one and three quarters percent.
Jerome Powell: (12:02)
In our subsequent meetings with some uncertainties surrounding trade having diminished and amid some signs that global growth may be stabilizing, the committee left the policy rate unchanged. The FOMC believes that the current stance of monetary policy will support continued economic growth, a strong labor market and inflation returning to the committee's symmetric 2% objective
High Level Abstractions:

(economic,growth,policy)
(economic,growth)
(growth,policy)
(global,growth)
(economic,policy,the_fomc)
(growth,monetary)
(growth,monetary,policy)
(economic,monetary,policy)
(global,policy)
Inferred entity relationships (89)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(monetary,policies) [inferred]
(growth,service) [inferred]
(economic,economy,speech) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(policy,wage) [inferred]
(growth,markets) [inferred]
(global,growth) [inferred]
(growth,interest) [inferred]
(economic,regulatory) [inferred]
(economic,economy,trade) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(growth,top-line) [inferred]
(economic,growth,product) [inferred]
(monetary,policies,policy) [inferred]
(growth,workers) [inferred]
(economic,growth,policies) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(monetary,outlook,policy) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(growth,year-over-year) [inferred]
(growth,policy) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policy,usmca) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(economic,economy,wage) [inferred]
(growth,president_obama) [inferred]
(economic,gdp,growth) [inferred]
(economic,monetary,policy) [inferred]
(economic,economy,policy) [inferred]
(growth,revenue) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(growth,productivity) [inferred]
(economic,growth,trump) [inferred]
(economic,economy,united_states) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(economic,monetary) [inferred]
(growth,institutional) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(global,policy) [inferred]
(economic,policy,trade) [inferred]
(economic,growth) [inferred]
(growth,omb) [inferred]
(economic,security) [inferred]
(monetary,political) [inferred]
(economic,policy,workforce) [inferred]
(monetary,policy,wage) [inferred]
(policy,trade) [inferred]
(growth,retail_services) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(growth,performance) [inferred]
(economic,economy) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economic,growth,positive) [inferred]
(growth,west_coast) [inferred]
(economic,economy,expansion) [inferred]
(economic,policies,policy) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,usmca) [inferred]
(economic,economy,weather) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(growth,tts) [inferred]
(economic,markets) [inferred]
(growth,spending) [inferred]

challenge (Read more)

But sustaining our economic prosperity also hinges on the Federal Reserve having good policy. The Central Bank is currently undertaking a review of its monetary policy framework to determine the tools it may need in the future.
Mr. McHenry: (01:05)
Chairman Powell, I raise the concern that we have regulatory policy, this impinging upon your capacity to make proper monetary policy and that is why I think it's important that you have a regulatory review of the limitations that those regulations can put on your broader monetary policy decisions
High Level Abstractions:

(economic,monetary,policy)
(economic,monetary)
(federal_reserve,monetary)
Inferred entity relationships (57)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(monetary,policies) [inferred]
(economic,economy,united_states) [inferred]
(economic,economy,speech) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(policy,wage) [inferred]
(economic,monetary) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(economic,regulatory) [inferred]
(economic,policy,trade) [inferred]
(economic,economy,trade) [inferred]
(economic,growth) [inferred]
(federal_reserve,regulatory) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(economic,policy,workforce) [inferred]
(monetary,policy,wage) [inferred]
(economic,growth,policies) [inferred]
(federal_reserve,growth) [inferred]
(policy,trade) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(monetary,outlook,policy) [inferred]
(economic,economy,usmca) [inferred]
(economic,reform) [inferred]
(federal_reserve,speech) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economic,growth,positive) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(economic,economy,weather) [inferred]
(economic,economy,wage) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(economic,markets) [inferred]
(federal_reserve,policy) [inferred]
(economic,monetary,policy) [inferred]
(economic,economy,policy) [inferred]

challenge (Read more)

Let him know that you not only have a mandate for inflationary or monetary policy, you have a dual mandate, employment, jobs.
Mr. Scott: (01:09:44)
And here's the other thing, you need to remind Mr. [inaudible 01:09:48], that this piece of legislation, this law, the Community Reinvestment Act is precious to the nation, but it's precious to African Americans more than anybody because it wasn't the Civil Rights Act, it wasn't the Voting Rights Act that dealt with the big issue facing African Americans
High Level Abstractions:

(employment,monetary,policy)
Inferred entity relationships (14)
(policy,trade) [inferred]
(monetary,policies) [inferred]
(employment,fed,federal_reserve) [inferred]
(monetary,outlook,policy) [inferred]
(policy,regulatory) [inferred]
(employment,policy) [inferred]
(monetary,wage) [inferred]
(policy,wage) [inferred]
(employment,federal_reserve) [inferred]
(employment,monetary) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(employment,fed) [inferred]
(monetary,policy,wage) [inferred]

challenge (Read more)

I mean, because there's always these gaps that seems to happen between the African American community and whites, where even though it's good economy, that gap stays the same.
Jerome Powell: (47:51)
There are persistent gaps, and they're very troubling, and they're not, in the long run, something that monetary policy can address. It really is up to other policies by governments, state and local governments, the federal government, and frankly businesses too, to do what they can to close that gap
High Level Abstractions:

(monetary,policies)
(governments,monetary)
(monetary,policies,policy)
Inferred entity relationships (9)
(policy,trade) [inferred]
(monetary,policies) [inferred]
(monetary,outlook,policy) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(policy,wage) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(monetary,policy,wage) [inferred]

challenge (Read more)

When you're talking about effecting different sectors of the business community or of the population, that really should be another agency or Congress itself in fiscal policy rather than the-
Ms. Waters: (01:00:16)
The witness has requested to continue to provide an answer for the record.
Speaker 1: (01:00:20)
I yield back
High Level Abstractions:

(congress,policy)
Inferred entity relationships (5)
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]
(congress,monetary,policy) [inferred]
(congress,monetary) [inferred]

challenge (Read more)

The prime age labor force participation has reached 2.2 million people that were previously out of the workforce and not surprisingly consumer confidence has increased dramatically since the month before the president's election.
Mr. McHenry: (00:36)
Every member of Congress should celebrate these remarkable outcomes, which have resulted from Republican leadership on pro-growth policies like tax reform and regulatory rightsizing. But sustaining our economic prosperity also hinges on the Federal Reserve having good policy
High Level Abstractions:

(federal_reserve,regulatory)
(economic,policies,policy)
(economic,policy,regulatory)
(policy,regulatory)
Inferred entity relationships (51)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(economic,economy,united_states) [inferred]
(economic,economy,speech) [inferred]
(policy,regulatory) [inferred]
(policy,wage) [inferred]
(economic,monetary) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(economic,regulatory) [inferred]
(economic,policy,trade) [inferred]
(economic,economy,trade) [inferred]
(economic,growth) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(economic,policy,workforce) [inferred]
(federal_reserve,growth) [inferred]
(economic,growth,policies) [inferred]
(policy,trade) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(federal_reserve,speech) [inferred]
(economic,reform) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economic,growth,positive) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(economic,economy,weather) [inferred]
(economic,economy,wage) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(economic,markets) [inferred]
(federal_reserve,policy) [inferred]
(economic,monetary,policy) [inferred]
(economic,economy,policy) [inferred]

challenge (Read more)

Fiscal policy has changed profoundly in the past three years, tax cuts, deregulation, a less restrained energy sector, a pullback from Dodd-Frank, repeal of the individual mandate, new trade deals.
High Level Abstractions:

(policy,trade)
Inferred entity relationships (2)
(policy,regulatory) [inferred]
(policy,wage) [inferred]

challenge (Read more)

What is your view of shifting from traditional monetary theory to one that involves a use of more tools in order to enhance borrowing to segments of society.
Jerome Powell: (59:55)
I think that has historically not been a function of The Fed, and of central banks generally. We have, as you pointed out, one tool, which is our interest rate policy.
Jerome Powell: (01:00:03)
As you pointed out, one tool which is our interest rate policy
High Level Abstractions:

(banks,the_fed)
(banks,policy)
(banks,interest)
(interest,policy)
Inferred entity relationships (19)
(banks,crisis) [inferred]
(policy,trade) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(policy,regulatory) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(policy,wage) [inferred]
(banks,the_fed) [inferred]
(interest,monetary) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]

challenge (Read more)

If we're not taking them seriously, have no fear, they are taking us very seriously and now they have basically all of our data too.
Mr. McHenry: (02:56)
The spillover effects of this question of Chinese policy is significant, not just for cybersecurity but what we're seeing with the Coronavirus and the destabilizing effects it has on global health.
High Level Abstractions:

(global,policy)
Inferred entity relationships (4)
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]
(global,growth) [inferred]

challenge (Read more)

We'll continue to expand with the economy and then we are-
Mr. McHenry: (22:57)
Are you doing a review on your capital requirements for financial institutions that should be participating in the repo market.
Jerome Powell: (23:06)
Well, I think we've reviewed supervisory and regulatory practices that may be affecting the flow of liquidity. Are our main focus of course is the federal funds market and our ability to transmit our policy decisions smoothly into the money markets through their federal funds rate
High Level Abstractions:

(policy,regulatory)
(federal,policy)
Inferred entity relationships (3)
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]

challenge (Read more)

I mean, because there's always these gaps that seems to happen between the African American community and whites, where even though it's good economy, that gap stays the same.
Jerome Powell: (47:51)
There are persistent gaps, and they're very troubling, and they're not, in the long run, something that monetary policy can address. It really is up to other policies by governments, state and local governments, the federal government, and frankly businesses too, to do what they can to close that gap.
High Level Abstractions:

(federal,policy)
Inferred entity relationships (3)
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]

challenge (Read more)

That requires giving external stakeholders sufficient time and analysis to provide meaningful feedback on a range of options for modernizing irregulation."
Ms. Waters: (16:18)
Chairman Powell, Governor Brainard also suggested in a speech last month that the Federal Reserve created a database of 6,000 public CRA evaluations. Looking at how barriers CRA investments support low and moderate income communities, has the Fed used this database to evaluate how bank activities would be assessed under the OCC's and the FDIC's proposal for CRA.
Jerome Powell: (16:55)
If I understood your question, it was whether we've used our database to evaluate their proposal.
Ms. Waters: (16:59)
That's right.
Jerome Powell: (17:00)
I'm not totally sure we have
High Level Abstractions:

(cra,fed,federal_reserve)
(federal_reserve,speech)
(cra,federal_reserve)
(fed,federal_reserve,speech)
Inferred entity relationships (26)
(federal_reserve,growth) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(cra,fed,federal_reserve) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(federal_reserve,speech) [inferred]
(cra,federal_reserve) [inferred]
(fed,monetary) [inferred]
(fed,wage) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(federal_reserve,regulatory) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]

challenge (Read more)

Is it true that most of that period has seen unemployment well above target while we almost never seen inflation above target.
Jerome Powell: (02:53:20)
That is true.
Ms. So meanwhile, black unemployment remains double that of white unemployment
High Level Abstractions:

(fed,inflation)
(fed,unemployment)
Inferred entity relationships (17)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

I know you're not a global health expert, but you can give us some sense of your measurement techniques in response to these economic changes that are being driven out of the Coronavirus challenge in China and the spillover effects it has to its neighbors and the supply chain as well that's derived through China.
Mr. McHenry: (03:32)
The nature of China's regime may not fit neatly into the Fed's risk assessments. The Fed has acknowledged in its financial stability report that cyber risks don't fit neatly either, but the risks are real.
High Level Abstractions:

(fed,risks)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

And so after Dr. King's assassination, Coretta Scott King picked up the mantle pushing the Fed to adopt a full employment mandate and was actually standing behind President Carter as he signed the Humphrey-Hawkins act into law
High Level Abstractions:

(employment,fed)
Inferred entity relationships (21)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(employment,fed,federal_reserve) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(employment,policy) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(employment,federal_reserve) [inferred]
(employment,monetary) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

we really have learned something since then and that is that unemployment can be lower than most people thought without inflation.
Ms. Pressley: (02:54:49)
So bearing that in mind, knowing what you know, would you still have supported raising the interest rates when the Fed did.
Jerome Powell: (02:54:55)
I did support it then. I think you have to judge those decisions on what we knew at the time.
Mr. Lawson: (02:55:03)
Would more Americans have jobs today, if the Fed had not increased rates over the past three years.
Jerome Powell: (02:55:10)
I don't
High Level Abstractions:

(fed,interest)
Inferred entity relationships (19)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(interest,monetary) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

Outside of administration officials, what other kinds of people might want to influence you and in regard to the Fed's decision making.
Jerome Powell: (02:08:53)
What other people might want to influence us
High Level Abstractions:

(fed,influence)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

They feel like they don't presume to give advice.
Ms. Porter: (02:09:26)
So you don't feel unduly pressured by political or special interests.
Jerome Powell: (02:09:29)
No, I really don't.
Ms. Would you say that someone like Jeff Bezos, the CEO of Amazon, one of the richest men in the world, could benefit from having influence over the Fed's decisions.
Jerome Powell: (02:09:41)
I wouldn't know, actually
High Level Abstractions:

(fed,influence)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

Do you not believe that the governments of Detroit, and Puerto Rico, also play a vital role that should be preserved even if financial crisis makes it hard for them to borrow money.
Jerome Powell: (01:50:22)
What I believe is that's not a job for the Fed
High Level Abstractions:

(crisis,fed)
(fed,governments)
Inferred entity relationships (19)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(crisis,economy,fed) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(governments,monetary) [inferred]
(fed,monetary) [inferred]
(fed,governments) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

challenge (Read more)

To guard against climate change impacts, the Bank of England has decided to stress test the UK's capital banks, largest banks, pardon me, and insurance companies against the risks associated with climate change." Will the Federal Reserve follow suit and develop climate-related stress tests.
Jerome Powell: (02:29:35)
So we're monitoring what the Bank of England is doing
High Level Abstractions:

(banks,federal_reserve)
(banks,risks)
(banks,capital)
(federal_reserve,risks)
(capital,insurance)
(capital,federal_reserve)
Inferred entity relationships (45)
(capital,regulatory) [inferred]
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(capital,clients,volumes) [inferred]
(capital,economy) [inferred]
(capital,risk) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(banks,regulators) [inferred]
(capital,insurance) [inferred]
(federal_reserve,monetary) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(federal_reserve,regulatory) [inferred]
(capital,colleagues) [inferred]
(banks,interest) [inferred]
(capital,federal_reserve) [inferred]
(banks,economy) [inferred]
(capital,clients) [inferred]
(federal_reserve,growth) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(federal_reserve,speech) [inferred]
(capital,infrastructure) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(capital,revenue) [inferred]
(capital,final_mile,growth) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(capital,growth) [inferred]
(banks,the_fed) [inferred]
(capital,fsoc) [inferred]
(banks,risks) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,liquidity) [inferred]
(banks,capital) [inferred]
(federal_reserve,policy) [inferred]

challenge (Read more)

And do you expect that there will be further review in calibration of these tests to reflect either current conditions or alternatively what we've learned since the crisis about what works and what doesn't work and what may be adding to significant reserves that many of these institutions.
Jerome Powell: (02:47:29)
My strong view is that capital, the levels of capital, particularly in the largest institutions are about right.
Mr. Hollingsworth: (02:47:35)
No.
Jerome Powell: (02:47:36)
And there's not a need to raise or to lower them-
Mr. Can you tell us-
Jerome Powell: (02:47:40)
High Level Abstractions:

(capital,crisis)
Inferred entity relationships (26)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(crisis,fed) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(crisis,economy,fed) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

challenge (Read more)

Help me understand kind of what do you look at to say this means about right, right.
Jerome Powell: (02:47:50)
Well capital levels are much higher and the quality of our capital is much higher.
Mr. Well that's not undoubtedly true, but I think we all agree that during the crisis or pre-crisis, right, capital levels weren't adequate to sort of say that their higher isn't definitive in terms of are they too high
High Level Abstractions:

(capital,crisis)
Inferred entity relationships (26)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(crisis,fed) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(crisis,economy,fed) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

challenge (Read more)

What can the U.S. do better, Chairman Powell, in order to prioritize these constant flow of cyber risks and strengthen the resilience of our financial sector.
Jerome Powell: (32:41)
I think we can, and have to, keep doing what we are doing, which is to make this really a top, if not the top supervisory priority, not just for the banks but for The Fed and for institutions across the American landscape. We have very high expectations, particularly of the largest banks on their ability to fend off cyber attacks
High Level Abstractions:

(banks,the_fed)
Inferred entity relationships (12)
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

challenge (Read more)

The unemployment rate is at a 50 year low. More Americans are employed today than ever before. Wage growth is the highest in a decade and the lowest income workers have been seeing the fastest pay increase growing at 16% since the 2016 election
High Level Abstractions:

(growth,wage)
Inferred entity relationships (35)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(growth,service) [inferred]
(growth,performance) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,volume) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

challenge (Read more)

Finding ways to boost labor force participation and productivity growth would benefit Americans and should remain a national priority.
Jerome Powell: (11:34)
I'll turn now to monetary policy.
High Level Abstractions:

(growth,monetary)
Inferred entity relationships (41)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(monetary,policies) [inferred]
(growth,service) [inferred]
(monetary,outlook,policy) [inferred]
(growth,performance) [inferred]
(monetary,wage) [inferred]
(growth,labor) [inferred]
(growth,markets) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(growth,workers) [inferred]
(monetary,policy,wage) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

challenge (Read more)

The prime age labor force participation has reached 2.2 million people that were previously out of the workforce and not surprisingly consumer confidence has increased dramatically since the month before the president's election.
Mr. McHenry: (00:36)
Every member of Congress should celebrate these remarkable outcomes, which have resulted from Republican leadership on pro-growth policies like tax reform and regulatory rightsizing. But sustaining our economic prosperity also hinges on the Federal Reserve having good policy. The Central Bank is currently undertaking a review of its monetary policy framework to determine the tools it may need in the future.
Mr. McHenry: (01:05)
Chairman Powell, I raise the concern that we have regulatory policy, this impinging upon your capacity to make proper monetary policy and that is why I think it's important that you have a regulatory review of the limitations that those regulations can put on your broader monetary policy decisions
High Level Abstractions:

(federal_reserve,policy)
Inferred entity relationships (9)
(federal_reserve,growth) [inferred]
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]
(federal_reserve,regulatory) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(federal_reserve,speech) [inferred]

challenge (Read more)

In July, when you were here, I asked you "Why, if the federal reserve is willing to backstop or support big banks and corporations during periods of credit market distress that we wouldn't want to make equally sure that state and local government also had access to credit as well." And you mentioned that you didn't have the authority to lend to local and state governments. Madam Chair, I'd like to submit for the record Section 14, 2B, of the Federal Reserve Act asserting that the feds, actually do have the authority to buy municipal debt.
Ms. Waters: (01:48:26)
Without objection such is the order.
Ms. Tlaib: (01:48:28)
Chairman, given that you actually do have the authority, can you explain to me why shouldn't the Federal Reserve ensure that state and local governments have access to funding during times of distress.
Jerome Powell: (01:48:42)
We have, as you know, limited authority
High Level Abstractions:

(federal_reserve,governments)
Inferred entity relationships (7)
(federal_reserve,growth) [inferred]
(federal_reserve,regulatory) [inferred]
(governments,monetary) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(federal_reserve,policy) [inferred]
(federal_reserve,speech) [inferred]

WIP (Read more)

President just signed into law the USMCA. Do you see that as creating a runway for further economic expansion in the US: job opportunities and wage growth.
Jerome Powell: (01:36:26)
We don't give advice on trade policy, but I would just say this, that I think the signing and the enactment of and implementation of USMCA will be a positive, at least in the sense that it removes uncertainty around trade policy
High Level Abstractions:

(economic,expansion,policy)
(economic,growth,policy)
(growth,usmca)
(economic,policy,trade)
(economy,wage)
(economy,policy,trade)
(economic,economy,policy)
(economic,economy,trade)
(economy,growth,usmca)
(policy,trade)
(growth,wage)
(economic,policy,usmca)
(growth,trade)
(economy,policy,usmca)
(economy,policy,wage)
(economy,growth,policy)
(economic,economy,growth)
(policy,wage)
(economic,policy,wage)
(economic,economy,expansion)
(economic,growth)
(economy,growth,wage)
(economic,economy,wage)
Inferred entity relationships (156)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(growth,service) [inferred]
(economy,reform,revenue) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(policy,wage) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(growth,interest) [inferred]
(economic,regulatory) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economic,economy,trade) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economy,growth,recall) [inferred]
(growth,top-line) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(growth,workers) [inferred]
(economic,growth,policies) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(growth,year-over-year) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(growth,policy) [inferred]
(economic,growth,prioritize) [inferred]
(economy,jobs,wage) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(economic,economy,wage) [inferred]
(growth,president_obama) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economic,monetary,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,economy,policy) [inferred]
(economy,growth,taxes) [inferred]
(growth,revenue) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(growth,productivity) [inferred]
(economic,growth,trump) [inferred]
(economy,president_trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(policy,regulatory) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(growth,institutional) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(economy,jobs,unemployment) [inferred]
(growth,revenues) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economic,growth) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(growth,omb) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(economic,policy,workforce) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(growth,retail_services) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economy,policy,wage) [inferred]
(growth,performance) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economic,growth,positive) [inferred]
(economy,reform,service) [inferred]
(growth,west_coast) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economic,economy,expansion) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economic,policies,policy) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(growth,usmca) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(growth,tts) [inferred]
(economic,markets) [inferred]
(growth,spending) [inferred]

WIP (Read more)

But walk me through your thinking in assessing the situation in China now in terms of the economics and that potential spillover effect.
Jerome Powell: (24:42)
I'll just quickly start by saying again that we find the US economy in a very good place performing well. We see signs of global growth bottoming out, we see reduced trade policy uncertainty.
High Level Abstractions:

(economy,growth,trade)
(economy,policy,trade)
(economy,growth,policy)
(economy,global)
(economy,global,growth)
Inferred entity relationships (116)
(growth,service) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(policy,wage) [inferred]
(growth,markets) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(global,growth) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(growth,interest) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economy,growth,recall) [inferred]
(growth,top-line) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(growth,workers) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(growth,year-over-year) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(growth,policy) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(growth,president_obama) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(growth,revenue) [inferred]
(growth,productivity) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(policy,regulatory) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(growth,institutional) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(economy,jobs,unemployment) [inferred]
(growth,revenues) [inferred]
(global,policy) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(growth,omb) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(growth,retail_services) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(growth,performance) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(growth,west_coast) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(growth,usmca) [inferred]
(economy,fed,unemployment) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(growth,tts) [inferred]
(growth,spending) [inferred]

WIP (Read more)

I recall, over the years, that the Atlanta Fed has applied its expertise to report on the economy of the space district.
Mr. Posey: (50:42)
First question, can you work with me to ensure that The Federal Reserve joins this multi-agency effort with an eye to avoiding financial bottlenecks and keeping this important space industry on path to a healthy growth rate.
Jerome Powell: (50:56)
It's the first I'm hearing about it, but I will surely, I'm happy to assure you that we'll take a close look at that, and if it's something that would be productive, we'd take part.
Mr. Over the years, we've developed a rather expansive policy of Federal Reserve independence, and I believe in assuring the freedom of The Fed to act independently on a day-to-day basis to manage our economy and the critical payment system
High Level Abstractions:

(economy,growth,the_federal_reserve)
(growth,policy)
(economy,federal_reserve,the_federal_reserve)
(federal_reserve,growth)
(economy,policy,the_federal_reserve)
(economy,growth,the_fed)
(economy,growth,recall)
(economy,growth,policy)
(federal_reserve,policy)
(economy,federal_reserve,the_fed)
Inferred entity relationships (121)
(growth,service) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(policy,wage) [inferred]
(growth,markets) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(growth,interest) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economy,growth,recall) [inferred]
(growth,top-line) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(growth,workers) [inferred]
(federal_reserve,growth) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(growth,year-over-year) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(growth,policy) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(growth,president_obama) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(growth,revenue) [inferred]
(growth,productivity) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(policy,regulatory) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(growth,institutional) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(federal_reserve,governments) [inferred]
(growth,monetary,policy) [inferred]
(economy,jobs,unemployment) [inferred]
(growth,revenues) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(growth,omb) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(growth,retail_services) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(growth,performance) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(growth,west_coast) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(growth,usmca) [inferred]
(economy,fed,unemployment) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(growth,tts) [inferred]
(federal_reserve,policy) [inferred]
(growth,spending) [inferred]

WIP (Read more)

Now Chairman Powell, I'm not going to ask you to weigh in or arbitrate a domestic political dispute, but when the FOMC conducts monetary policy, given what you said about the lag time of fiscal policy, is it fair to say that this president's policies are impacting today's economic conditions.
Jerome Powell: (01:23:06)
At a high level, of course, they are.
Mr. Barr: (01:23:10)
Let me follow up on Representative Wagner's question about the GSIB surcharge
High Level Abstractions:

(economy,monetary,policy)
(economic,policies,policy)
(economy,lag,policy)
(economic,economy,policy)
(economic,monetary)
(monetary,policies,policy)
(economic,monetary,policy)
(monetary,political)
Inferred entity relationships (126)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(monetary,policies) [inferred]
(economy,reform,revenue) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(policy,wage) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economic,regulatory) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economic,economy,trade) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(monetary,policies,policy) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(monetary,outlook,policy) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,jobs,wage) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economic,economy,wage) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,monetary,policy) [inferred]
(economy,growth,taxes) [inferred]
(economic,economy,policy) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economy,president_trump) [inferred]
(economic,growth,trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economic,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(monetary,political) [inferred]
(economy,growth,the_fed) [inferred]
(economic,policy,workforce) [inferred]
(monetary,policy,wage) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economy,policy,wage) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economy,president_obama) [inferred]
(economic,expansion,policy) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economic,growth,positive) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economic,economy,expansion) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economic,policies,policy) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(economic,gdp) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economic,economy,governor) [inferred]
(economy,reform,republican) [inferred]
(economic,markets) [inferred]

WIP (Read more)

Chairman Powell, welcome back to our committee, and I want to first touch on your testimony about the importance of fiscal policy and supporting the economy. In general, what would you say is the lag time associated with a major change in fiscal policy.
Jerome Powell: (01:21:16)
Well, it can tend to be long, as you know
High Level Abstractions:

(economy,lag,policy)
Inferred entity relationships (77)
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(policy,regulatory) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(policy,wage) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(policy,trade) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

WIP (Read more)

Now, several estimates put the current level of global space economy at well over $400 billion a year, with a growth rate of 8% from 2018 to 2019.
Mr. Posey: (50:09)
In December, the Bureau of Economic Analysis announced the creation of a Space Economy Satellite Account, a new collaborative effort to measure the relative importance of the space sector on the U.S. economy, with a special emphasis on the growing commercial space segment
High Level Abstractions:

(global,growth)
(economy,global,growth)
(economy,growth,space_economy_satellite_account)
Inferred entity relationships (113)
(growth,service) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(global,growth) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(growth,interest) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economy,growth,recall) [inferred]
(growth,top-line) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(growth,workers) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(growth,year-over-year) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(growth,policy) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(growth,president_obama) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(growth,revenue) [inferred]
(growth,productivity) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(growth,institutional) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(economy,jobs,unemployment) [inferred]
(global,policy) [inferred]
(growth,revenues) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(growth,omb) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(growth,retail_services) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(growth,performance) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(growth,west_coast) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(growth,usmca) [inferred]
(economy,fed,unemployment) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(growth,tts) [inferred]
(growth,spending) [inferred]

WIP (Read more)

And in a span of four decades since the 1970s, 38 million women joined the workforce, and without those women or economy would be 25% smaller. So when we talk about the health of our economy and we talk about GDP growth, what I don't hear a lot about, and I'd like to hear more from you about, is about the economic effect of things like childcare availability
High Level Abstractions:

(economy,growth,workforce)
Inferred entity relationships (110)
(growth,service) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(growth,interest) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economy,growth,recall) [inferred]
(growth,top-line) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(growth,workers) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(growth,year-over-year) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(growth,policy) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(growth,volume) [inferred]
(growth,product,revenue) [inferred]
(growth,president_obama) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(growth,revenue) [inferred]
(growth,productivity) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(growth,institutional) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(economy,jobs,unemployment) [inferred]
(growth,revenues) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(growth,omb) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(growth,retail_services) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(growth,performance) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(growth,west_coast) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(growth,usmca) [inferred]
(economy,fed,unemployment) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(growth,tts) [inferred]
(growth,spending) [inferred]

WIP (Read more)

Furthermore, the former FDIC chair, Mr. Gruenberg, has warned that the FDIC would not be able to wind down a bank the size of the combined BB&T SunTrust without imposing significant losses on the deposit insurance fund and potentially destabilizing the financial system in this light, can the Federal Reserve justify it's conclusion that "This transaction would not appear to result in meaningfully greater or more concentrated risks to the stability of the financial system."
Jerome Powell: (02:33:23)
Yes, I think we can and I think we did
High Level Abstractions:

(banks,federal_reserve)
(banks,risks)
(economy,federal_reserve,risks)
Inferred entity relationships (94)
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(federal_reserve,risks) [inferred]
(banks,regulators) [inferred]
(federal_reserve,monetary) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(banks,interest) [inferred]
(economy,growth,trade) [inferred]
(banks,economy) [inferred]
(federal_reserve,growth) [inferred]
(banks,volcker_rule) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(federal_reserve,governments) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(federal_reserve,regulatory) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(federal_reserve,speech) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,fed,speech) [inferred]
(banks,federal_reserve) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(banks,risks) [inferred]
(economy,reform,republican) [inferred]
(banks,capital) [inferred]
(federal_reserve,policy) [inferred]

WIP (Read more)

There's no guarantee that the rate will continue to be published after the end of 2021, but there's a question about having a credit-sensitive rate in addition to SOFR. SOFR Will be the main substitute for LIBOR, but we are working with regional and some of the larger banks, too, about the idea of also having a credit-sensitive rate and that's something that's ongoing.
Mr. And we've had a little conversation about the coronavirus, China, the impacts on the economy. President just signed into law the USMCA. Do you see that as creating a runway for further economic expansion in the US: job opportunities and wage growth.
Jerome Powell: (01:36:26)
We don't give advice on trade policy, but I would just say this, that I think the signing and the enactment of and implementation of USMCA will be a positive, at least in the sense that it removes uncertainty around trade policy
High Level Abstractions:

(economic,economy,usmca)
(china,economy)
(china,economic,economy)
Inferred entity relationships (119)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(economy,reform,revenue) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economic,regulatory) [inferred]
(china,economic,economy) [inferred]
(economic,economy,trade) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(economic,growth,prioritize) [inferred]
(economy,jobs,wage) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economic,economy,wage) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economic,monetary,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,economy,policy) [inferred]
(economy,growth,taxes) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economy,president_trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(china,economy) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economic,growth) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(economic,policy,workforce) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economy,policy,wage) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economic,growth,positive) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economic,economy,expansion) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economic,policies,policy) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economic,markets) [inferred]

WIP (Read more)

So your colleague at the Atlanta Fed stated recently that, "Economic and economic expansion does not die of old age." I think that's a great quote. Given that the fundamentals of the economy are strong, do you think many businesses and investors are trying to talk themselves into a recession.
Jerome Powell: (01:12:29)
I don't think so and I certainly hope not
High Level Abstractions:

(economic,economy,expansion)
Inferred entity relationships (116)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(economy,reform,revenue) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economic,regulatory) [inferred]
(economic,economy,trade) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(economic,growth,prioritize) [inferred]
(economy,jobs,wage) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economic,economy,wage) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economic,monetary,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,economy,policy) [inferred]
(economy,growth,taxes) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economy,president_trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economic,growth) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(economic,policy,workforce) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economy,policy,wage) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economic,growth,positive) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economic,policies,policy) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economic,markets) [inferred]

WIP (Read more)

Now assuming that those numbers are true and correct, what impact, if any, would that have on the retail sector and what impact, if any, would that have on the overall economy.
Jerome Powell: (02:34:47)
So I think there's a lot of uncertainty around what the ultimate economic effects will be outside of China and particularly in the United States.
High Level Abstractions:

(china,economic,economy)
(economic,economy,united_states)
Inferred entity relationships (118)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,labor,policy) [inferred]
(economy,reform,revenue) [inferred]
(economic,economy,speech) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economic,regulatory) [inferred]
(economic,economy,trade) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economic,growth,product) [inferred]
(economy,growth,trade) [inferred]
(economic,growth,policies) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economy,federal_reserve,risks) [inferred]
(economic,reform) [inferred]
(economic,policy,wage) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(economic,growth,prioritize) [inferred]
(economy,jobs,wage) [inferred]
(economic,policy,usmca) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economic,economy,wage) [inferred]
(economy,jobs,president_trump) [inferred]
(economic,gdp,growth) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economic,monetary,policy) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economic,economy,policy) [inferred]
(economy,growth,taxes) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economy,president_trump) [inferred]
(economic,economy,united_states) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(china,economy) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economic,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economic,policy,trade) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economic,growth) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economic,security) [inferred]
(economy,federal_reserve,governor) [inferred]
(economic,policy,workforce) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economy,policy,wage) [inferred]
(economic,economy) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economic,growth,positive) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economic,economy,expansion) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economic,policies,policy) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economic,economy,weather) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economic,markets) [inferred]

WIP (Read more)

If yes, what more will the Fed do in the future to identify and mitigate the financial risks of climate change.
Jerome Powell: (02:31:51)
I do think it's incumbent on us to do the research and understand the implications of climate change for our supervisory roles and our roles in looking after financial stability.
High Level Abstractions:

(economy,fed,supervisory)
Inferred entity relationships (91)
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(fed,federal_reserve,growth) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,monetary) [inferred]
(fed,governments) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]

WIP (Read more)

Number one, given that the assets exposed to climate change exceed the entire subprime mortgage market prior to the global financial crisis, how, if at all, is the Fed thinking about climate change as a systemic risk to the economy.
Jerome Powell: (01:59:44)
Climate change, again, a very important issue
High Level Abstractions:

(economy,global)
(crisis,economy,fed)
Inferred entity relationships (95)
(economy,reform,revenue) [inferred]
(fed,federal_reserve,governor) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(global,growth) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,growth,recall) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(crisis,fed) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(fed,wage) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(global,policy) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(fed,federal_reserve,growth) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(fed,governments) [inferred]
(fed,inflation) [inferred]

WIP (Read more)

We'll continue to expand with the economy and then we are-
Mr. McHenry: (22:57)
Are you doing a review on your capital requirements for financial institutions that should be participating in the repo market.
Jerome Powell: (23:06)
Well, I think we've reviewed supervisory and regulatory practices that may be affecting the flow of liquidity
High Level Abstractions:

(capital,economy)
Inferred entity relationships (99)
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(economy,growth,recall) [inferred]
(capital,colleagues) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(economy,federal_reserve,risks) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(capital,volumes) [inferred]
(economy,jobs,wage) [inferred]
(capital,misallocation) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(capital,liquidity) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(capital,regulatory) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(capital,clients,volumes) [inferred]
(economy,growth,workforce) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(capital,federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(capital,clients) [inferred]
(capital,technology) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(capital,revenue) [inferred]
(capital,final_mile,growth) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(capital,growth) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(capital,fsoc) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]

WIP (Read more)

What do you think the most significant risk to the financial system is today.
Jerome Powell: (01:14:17)
I mean, I have to start by saying that I think the financial system is strong and has been materially strengthened since the financial crisis, particularly the banks, high capital, high liquidity, stress tests keep them on their toes and now they have real resolution plans
High Level Abstractions:

(capital,economy)
(capital,crisis)
(capital,risk)
(banks,capital)
(banks,economy)
(banks,crisis)
Inferred entity relationships (116)
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(capital,risk) [inferred]
(banks,regulators) [inferred]
(capital,insurance) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(crisis,economy,fed) [inferred]
(economy,growth,recall) [inferred]
(capital,colleagues) [inferred]
(economy,growth,workers) [inferred]
(banks,interest) [inferred]
(economy,growth,trade) [inferred]
(banks,economy) [inferred]
(economy,federal_reserve,risks) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(banks,volcker_rule) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(capital,volumes) [inferred]
(economy,jobs,wage) [inferred]
(capital,misallocation) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(capital,liquidity) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(capital,regulatory) [inferred]
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(crisis,fed) [inferred]
(economy,reform,unemployment) [inferred]
(capital,clients,volumes) [inferred]
(economy,growth,workforce) [inferred]
(capital,economy) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(capital,federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(capital,clients) [inferred]
(capital,technology) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(capital,revenue) [inferred]
(capital,final_mile,growth) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,fed,speech) [inferred]
(banks,federal_reserve) [inferred]
(capital,growth) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(capital,fsoc) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(banks,risks) [inferred]
(economy,reform,republican) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(banks,capital) [inferred]
(risk,service) [inferred]

WIP (Read more)

As a leading voice on the financial stability oversight council, will you commit to raising this issue with your colleagues at FSOC and urge that body to examine the extent to which a misallocation of resources away from shareholders, to serve unrelated political errands, might stifle capital formation, compromise investor returns and ultimately undermine financial stability.
Jerome Powell: (01:25:35)
I don't know that I totally understand your concern, but I'll be happy to discuss it with you and...
Mr. Barr: (01:25:40)
Well, the concern is that if shareholders are not a prime concern of corporate boards and directors, if stakeholders who have no ownership interest in the company are the focus of a corporation, then I would submit that there is a tremendous risk of misallocation of resources away from maximum shareholder returns, and I would like to FSOC to take a look at that.
Ms. Waters: (01:26:08)
The gentleman yields back.
Jerome Powell: (01:26:09)
I will bring that to the authorities at the FSOC.
Mr. Waters: (01:26:12)
The woman from Ohio, Ms. Beatty, is also the chair for the Subcommittee on Diversity and Inclusion, is recognized for five minutes.
Ms. Beatty: (01:26:21)
Thank you to the chair and to the ranking member, and thank you Chairman Powell for being here today
High Level Abstractions:

(capital,colleagues)
(capital,misallocation)
(capital,economy)
(capital,risk)
(capital,fsoc)
(economy,interest)
(capital,shareholders)
Inferred entity relationships (104)
(economy,reform,revenue) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(economy,growth,recall) [inferred]
(interest,monetary) [inferred]
(capital,colleagues) [inferred]
(economy,growth,workers) [inferred]
(economy,growth,trade) [inferred]
(economy,federal_reserve,risks) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,wage) [inferred]
(economy,jobs,president_obama) [inferred]
(capital,volumes) [inferred]
(economy,jobs,wage) [inferred]
(capital,misallocation) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,reform,trade) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(capital,liquidity) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]
(capital,regulatory) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(capital,clients,volumes) [inferred]
(economy,growth,workforce) [inferred]
(capital,economy) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(capital,federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,the_fed) [inferred]
(capital,clients) [inferred]
(capital,technology) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(capital,revenue) [inferred]
(capital,final_mile,growth) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,growth,wage) [inferred]
(economy,fed,speech) [inferred]
(capital,growth) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(capital,fsoc) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(risk,service) [inferred]

WIP (Read more)

Of course policy is not on a preset course, if developments emerge that cause a material reassessment of our outlook we would respond accordingly.
Jerome Powell: (12:45)
Taking a longer view, there has been a decline over the past quarter century in the level of interest rates consistent with stable prices and the economy operating at its full potential. This low interest rate environment may limit the ability of central banks to reduce policy interest rates enough to support the economy during a downturn
High Level Abstractions:

(economy,interest)
(banks,interest)
Inferred entity relationships (89)
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(banks,regulators) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(interest,monetary) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(banks,economy) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(banks,volcker_rule) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(banks,federal_reserve) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(banks,risks) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(banks,capital) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

WIP (Read more)

We were really looking at a few things when we did that and yes, the intention was definitely to support the economy. Part of it was to offset the effects of global factors, and there I would say just the slowdown in growth in the global economy just went on and on and we felt the need to offset that and also take out some insurance against the effect that might have on the US. Trade policy uncertainty was weighing on the US economy
High Level Abstractions:

(economy,global)
Inferred entity relationships (76)
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(global,growth) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(global,policy) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

WIP (Read more)

Of course policy is not on a preset course, if developments emerge that cause a material reassessment of our outlook we would respond accordingly.
Jerome Powell: (12:45)
Taking a longer view, there has been a decline over the past quarter century in the level of interest rates consistent with stable prices and the economy operating at its full potential. This low interest rate environment may limit the ability of central banks to reduce policy interest rates enough to support the economy during a downturn.
High Level Abstractions:

(banks,economy)
Inferred entity relationships (87)
(banks,crisis) [inferred]
(economy,president_trump) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(banks,regulators) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(banks,interest) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(banks,volcker_rule) [inferred]
(economy,jobs,the_trump) [inferred]
(banks,keep) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(banks,fed) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(banks,federal_reserve) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(banks,the_fed) [inferred]
(economy,jobs,president_trump) [inferred]
(banks,risks) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(banks,capital) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

WIP (Read more)

Give me some thoughts, Mr. Can you help us please.
Jerome Powell: (01:19:13)
There's a great deal of research that's been done on minimum wages, and I don't know of a particular one, but there's has to be somewhere research on what a federal $15 wage increase would do.
Mr. Green: (01:19:25)
I agree with you
High Level Abstractions:

(economy,wage)
(fed,wage)
Inferred entity relationships (90)
(fed,unemployment) [inferred]
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,interest) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(fed,monetary) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(fed,federal_reserve,solvency) [inferred]
(economy,jobs,manufacturing) [inferred]
(fed,influence) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(fed,federal_reserve,wage) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(fed,federal_reserve,growth) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(fed,federal_reserve,weather) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,risks) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(fed,risks) [inferred]
(economy,fed,unemployment) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(fed,governments) [inferred]
(economy,growth,taxes) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]

WIP (Read more)

Have you looked at the transitional risks, in thinking about how that starts moving around and dislocating the economy.
Jerome Powell: (02:01:06)
So those are the things that we're at the beginning stages of looking into
High Level Abstractions:

(economy,risks)
Inferred entity relationships (74)
(economy,president_trump) [inferred]
(economy,growth,policy) [inferred]
(economy,jobs,reform) [inferred]
(economy,reform,revenue) [inferred]
(economy,fed,governor) [inferred]
(economy,federal_reserve,supervisory) [inferred]
(economy,reform,wage) [inferred]
(economy,growth,the_federal_reserve) [inferred]
(economy,reform,taxes) [inferred]
(economy,growth,president_reagan) [inferred]
(economy,reform,unemployment) [inferred]
(economy,growth,workforce) [inferred]
(economy,policy,usmca) [inferred]
(economy,fed,weather) [inferred]
(economy,fed,policy) [inferred]
(economy,fed,federal_reserve) [inferred]
(economy,taxes) [inferred]
(economy,growth,usmca) [inferred]
(economy,president_trump,reform) [inferred]
(economy,growth,services) [inferred]
(economy,jobs,unemployment) [inferred]
(economy,growth,ranking_member_wyden) [inferred]
(economy,federal_reserve,weather) [inferred]
(economy,policy,the_federal_reserve) [inferred]
(economy,jobs,manufacturing) [inferred]
(economy,growth,recall) [inferred]
(economy,unemployment) [inferred]
(economy,global,growth) [inferred]
(economy,policies) [inferred]
(economy,growth,workers) [inferred]
(economy,federal_reserve,the_federal_reserve) [inferred]
(economy,federal_reserve,governor) [inferred]
(economy,growth,trade) [inferred]
(economy,growth,the_fed) [inferred]
(economy,growth,unemployment) [inferred]
(economy,federal_reserve,spillover) [inferred]
(economy,federal_reserve,suntrust) [inferred]
(economy,interest) [inferred]
(economy,federal_reserve,risks) [inferred]
(economy,policy,wage) [inferred]
(economy,monetary,policy) [inferred]
(economy,jobs,the_trump) [inferred]
(economy,reform,tenths) [inferred]
(economy,global) [inferred]
(economy,president_obama) [inferred]
(economy,growth,space_economy_satellite_account) [inferred]
(economy,jobs,president_reagan) [inferred]
(economy,wage) [inferred]
(economy,reform,service) [inferred]
(economy,policy,unemployment) [inferred]
(economy,jobs,policies) [inferred]
(economy,jobs,president_obama) [inferred]
(economy,fed,sir) [inferred]
(economy,growth,manufacturing) [inferred]
(economy,growth,policies) [inferred]
(economy,jobs,wage) [inferred]
(economy,employment,fed) [inferred]
(economy,jobs,taxes) [inferred]
(economy,federal_reserve,speech) [inferred]
(economy,growth,wage) [inferred]
(economy,reform,trade) [inferred]
(economy,fed,speech) [inferred]
(economy,lag,policy) [inferred]
(economy,employment,policy) [inferred]
(economy,fed,solvency) [inferred]
(economy,fed,unemployment) [inferred]
(economy,jobs,president_trump) [inferred]
(economy,fed,san_francisco_fed) [inferred]
(economy,reform,republican) [inferred]
(economy,federal_reserve,the_fed) [inferred]
(economy,policy,trade) [inferred]
(economy,fed,supervisory) [inferred]
(economy,monetary) [inferred]
(economy,growth,taxes) [inferred]

WIP (Read more)

This independence brings with it an obligation to explain clearly how we pursue our goals. Today I will review the current economic situation before turning to monetary policy.
Jerome Powell: (07:59)
The economic expansion is well into its 11th year and it is the longest on record
High Level Abstractions:

(economic,monetary,policy)
Inferred entity relationships (50)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(monetary,policies) [inferred]
(economic,economy,united_states) [inferred]
(economic,economy,speech) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(policy,wage) [inferred]
(economic,monetary) [inferred]
(economic,regulatory) [inferred]
(economic,policy,trade) [inferred]
(economic,economy,trade) [inferred]
(economic,growth) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(economic,policy,workforce) [inferred]
(monetary,policy,wage) [inferred]
(economic,growth,policies) [inferred]
(policy,trade) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(monetary,outlook,policy) [inferred]
(economic,economy,usmca) [inferred]
(economic,reform) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(economic,expansion,policy) [inferred]
(economic,growth,positive) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(economic,economy,weather) [inferred]
(economic,economy,wage) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(economic,markets) [inferred]
(economic,economy,policy) [inferred]

WIP (Read more)

My colleagues and I strongly support the goals of maximum employment and price stability that Congress has set for monetary policy. Congress has given us an important degree of independence to pursue these goals based solely on data and objective analysis
High Level Abstractions:

(congress,monetary,policy)
(congress,policy)
(employment,monetary)
(congress,monetary)
(employment,policy)
Inferred entity relationships (17)
(congress,policy) [inferred]
(policy,trade) [inferred]
(monetary,policies) [inferred]
(congress,monetary,policy) [inferred]
(monetary,outlook,policy) [inferred]
(employment,fed,federal_reserve) [inferred]
(congress,monetary) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(employment,policy) [inferred]
(policy,wage) [inferred]
(employment,federal_reserve) [inferred]
(employment,monetary) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(employment,fed) [inferred]
(monetary,policy,wage) [inferred]

WIP (Read more)

We do see those things now because the labor market is strong, but really we need, really, other programs to address the longer run needs of those communities other than just the business cycle and monetary policy.
Mr. Meeks: (46:16)
Also during this period of time, would you say that, a number of us has been arguing, and finally we are moving toward a $15 an hour minimum wage for individuals on the bottom, would you think that that has something to do with helping them also, the fact that many states have adopted a $15 or higher minimum wage than what had been put put in place.
Jerome Powell: (46:39)
I will answer your question directly
High Level Abstractions:

(monetary,wage)
(monetary,policy,wage)
(policy,wage)
(individuals,monetary,policy)
(labor,monetary,policy)
Inferred entity relationships (10)
(policy,trade) [inferred]
(monetary,policies) [inferred]
(monetary,outlook,policy) [inferred]
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(policy,wage) [inferred]
(individuals,security) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(monetary,policy,wage) [inferred]

WIP (Read more)

As long as incoming information about the economy remains broadly consistent with this outlook, the current stance of monetary policy will likely remain appropriate. Of course policy is not on a preset course, if developments emerge that cause a material reassessment of our outlook we would respond accordingly.
Jerome Powell: (12:45)
Taking a longer view, there has been a decline over the past quarter century in the level of interest rates consistent with stable prices and the economy operating at its full potential
High Level Abstractions:

(monetary,outlook,policy)
Inferred entity relationships (8)
(policy,regulatory) [inferred]
(monetary,wage) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]
(monetary,policies) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(monetary,policy,wage) [inferred]

WIP (Read more)

But walk me through your thinking in assessing the situation in China now in terms of the economics and that potential spillover effect.
Jerome Powell: (24:42)
I'll just quickly start by saying again that we find the US economy in a very good place performing well. We see signs of global growth bottoming out, we see reduced trade policy uncertainty. Overall, in the background we see strong job creation, continued moderate growth, all of those things
High Level Abstractions:

(growth,trade)
(growth,policy)
(policy,trade)
(global,policy)
Inferred entity relationships (40)
(growth,productivity) [inferred]
(policy,trade) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(growth,service) [inferred]
(growth,performance) [inferred]
(policy,regulatory) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(policy,wage) [inferred]
(growth,markets) [inferred]
(growth,year-over-year) [inferred]
(global,growth) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

We lowered the federal funds target range at our July, September, and October meetings, bringing the current target range to one and a half to one and three quarters percent.
Jerome Powell: (12:02)
In our subsequent meetings with some uncertainties surrounding trade having diminished and amid some signs that global growth may be stabilizing, the committee left the policy rate unchanged
High Level Abstractions:

(federal,policy)
(growth,trade)
(economic,policy,trade)
(policy,trade)
Inferred entity relationships (79)
(economic,economy,supervisory) [inferred]
(economic,growth,security) [inferred]
(economic,trump) [inferred]
(economic,economy,growth) [inferred]
(economic,growth,president_obama) [inferred]
(economic,policy,the_fomc) [inferred]
(growth,productivity) [inferred]
(economic,growth,trump) [inferred]
(economic,labor,policy) [inferred]
(economic,economy,united_states) [inferred]
(growth,service) [inferred]
(economic,economy,speech) [inferred]
(policy,regulatory) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(policy,wage) [inferred]
(growth,markets) [inferred]
(growth,institutional) [inferred]
(economic,monetary) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(economic,regulatory) [inferred]
(economic,economy,trade) [inferred]
(growth,taxes) [inferred]
(growth,product) [inferred]
(economic,growth) [inferred]
(growth,top-line) [inferred]
(growth,omb) [inferred]
(economic,growth,product) [inferred]
(economic,security) [inferred]
(economic,policy,workforce) [inferred]
(growth,workers) [inferred]
(economic,growth,policies) [inferred]
(policy,trade) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(economic,growth,policy) [inferred]
(economic,growth,taxpayer_first_act) [inferred]
(economic,risks) [inferred]
(economic,omb) [inferred]
(economic,economy,usmca) [inferred]
(economic,reform) [inferred]
(growth,performance) [inferred]
(economic,economy) [inferred]
(economic,policy,wage) [inferred]
(economic,policy,regulatory) [inferred]
(growth,year-over-year) [inferred]
(economic,expansion,policy) [inferred]
(growth,west_coast) [inferred]
(economic,growth,positive) [inferred]
(growth,policy) [inferred]
(economic,economy,expansion) [inferred]
(economic,growth,prioritize) [inferred]
(economic,policies,policy) [inferred]
(economic,policy,usmca) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(growth,usmca) [inferred]
(growth,product,revenue) [inferred]
(economic,economy,weather) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,president_obama) [inferred]
(economic,economy,wage) [inferred]
(economic,gdp) [inferred]
(economic,economy,governor) [inferred]
(economic,gdp,growth) [inferred]
(growth,tts) [inferred]
(economic,markets) [inferred]
(economic,monetary,policy) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]
(economic,economy,policy) [inferred]

WIP (Read more)

All I'll say is that I've consistently, from the days of Mr. Greenspan, been pushing for somewhat lower interest rates and an expansionary policy, particularly quantitative easing, because you returned $55 billion to the Treasury last year, and that's, I know, not your purpose, but think of the kids that will get an education because we could fund aid to local education, think of the medical research and the lives that will be saved because we were able to fund medical research
High Level Abstractions:

(interest,policy)
Inferred entity relationships (5)
(policy,regulatory) [inferred]
(policy,trade) [inferred]
(policy,wage) [inferred]
(interest,monetary) [inferred]
(interest,monetary,policy) [inferred]

WIP (Read more)

We actually haven't made a decision yet about whether or when to make a proposal, but nonetheless, the whole effort was undertaken with a view to creating a modernization proposal for CRA.
Ms. As you know, the Federal Reserve has a dual mandate, price stability and maximum employment. So will the Fed set a goal for wage growth, and are you considering this approach as part of the framework review.
Jerome Powell: (02:20:22)
I don't see us targeting wage growth as an independent item
High Level Abstractions:

(growth,wage)
(fed,federal_reserve,wage)
(employment,federal_reserve)
(employment,fed,federal_reserve)
(fed,federal_reserve,growth)
(fed,growth)
(federal_reserve,growth)
(fed,wage)
(employment,fed)
Inferred entity relationships (65)
(fed,unemployment) [inferred]
(growth,productivity) [inferred]
(growth,service) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,interest) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(employment,federal_reserve) [inferred]
(employment,monetary) [inferred]
(growth,institutional) [inferred]
(fed,monetary) [inferred]
(fed,wage) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(employment,fed,federal_reserve) [inferred]
(federal_reserve,monetary) [inferred]
(fed,federal_reserve,solvency) [inferred]
(growth,taxes) [inferred]
(fed,influence) [inferred]
(growth,product) [inferred]
(growth,top-line) [inferred]
(federal_reserve,regulatory) [inferred]
(growth,omb) [inferred]
(growth,workers) [inferred]
(federal_reserve,growth) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,growth) [inferred]
(federal_reserve,speech) [inferred]
(growth,performance) [inferred]
(growth,year-over-year) [inferred]
(growth,west_coast) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(growth,policy) [inferred]
(fed,federal_reserve,weather) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(fed,risks) [inferred]
(growth,usmca) [inferred]
(growth,product,revenue) [inferred]
(employment,policy) [inferred]
(fed,federal_reserve,sir) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(fed,federal_reserve,speech) [inferred]
(growth,tts) [inferred]
(federal_reserve,policy) [inferred]
(employment,fed) [inferred]
(fed,governments) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

Has there been a study to give us some sense of what a $15 an hour wage will do for the economy, a study for what a $15 an hour wage will do for the economy. Has the Fed done such a study.
Jerome Powell: (01:18:00)
The Fed has not
High Level Abstractions:

(fed,wage)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]

WIP (Read more)

I don't see us targeting a particular level of wage growth.
Ms. So have you considered adopting a floor for wage growth. For example, once we set a certain percentage increase in pay in wages, the Fed may consider switching to 2% inflation rate.
Jerome Powell: (02:20:59)
Well, we've said that we
High Level Abstractions:

(fed,growth)
(fed,wage)
Inferred entity relationships (53)
(fed,unemployment) [inferred]
(growth,productivity) [inferred]
(growth,service) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,interest) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(growth,institutional) [inferred]
(fed,monetary) [inferred]
(fed,wage) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(fed,federal_reserve,solvency) [inferred]
(growth,taxes) [inferred]
(fed,influence) [inferred]
(growth,product) [inferred]
(growth,top-line) [inferred]
(growth,omb) [inferred]
(growth,workers) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,growth) [inferred]
(growth,performance) [inferred]
(growth,year-over-year) [inferred]
(growth,west_coast) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(growth,policy) [inferred]
(fed,federal_reserve,weather) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(fed,risks) [inferred]
(growth,usmca) [inferred]
(growth,product,revenue) [inferred]
(fed,federal_reserve,sir) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(fed,federal_reserve,speech) [inferred]
(growth,tts) [inferred]
(fed,governments) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

We actually haven't made a decision yet about whether or when to make a proposal, but nonetheless, the whole effort was undertaken with a view to creating a modernization proposal for CRA.
Ms. As you know, the Federal Reserve has a dual mandate, price stability and maximum employment
High Level Abstractions:

(cra,fed,federal_reserve)
Inferred entity relationships (25)
(federal_reserve,growth) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(federal_reserve,speech) [inferred]
(cra,federal_reserve) [inferred]
(fed,monetary) [inferred]
(fed,wage) [inferred]
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(federal_reserve,regulatory) [inferred]
(federal_reserve,policy) [inferred]
(fed,governments) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]

WIP (Read more)

Now, the Fed began raising rates in 2016, even though inflation was still below target, and when rates go up, unemployment tends to as well.
High Level Abstractions:

(fed,inflation)
(fed,unemployment)
Inferred entity relationships (17)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

WIP (Read more)

we really have learned something since then and that is that unemployment can be lower than most people thought without inflation.
Ms. Pressley: (02:54:49)
So bearing that in mind, knowing what you know, would you still have supported raising the interest rates when the Fed did.
Jerome Powell: (02:54:55)
I did support it then
High Level Abstractions:

(fed,inflation)
(fed,unemployment)
Inferred entity relationships (17)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

WIP (Read more)

There are some serious systemic risks to the economy if we leave those unaddressed.
Mr. Casten: (01:59:24)
I just want to understand a little bit how you and the Fed are thinking about those risks
High Level Abstractions:

(fed,risks)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

WIP (Read more)

If yes, what more will the Fed do in the future to identify and mitigate the financial risks of climate change.
Jerome Powell: (02:31:51)
I do think it's incumbent on us to do the research and understand the implications of climate change for our supervisory roles and our roles in looking after financial stability
High Level Abstractions:

(fed,risks)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

WIP (Read more)

They very wealthy people. Do they have savings and make different amounts of money depending on what the Fed does with interest rates.
Jerome Powell: (02:09:54)
Yes.
Ms. Porter: (02:09:55)
What about Kellyanne Conway
High Level Abstractions:

(fed,interest)
Inferred entity relationships (19)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(interest,monetary) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(fed,growth) [inferred]
(fed,inflation) [inferred]
(fed,wage) [inferred]

WIP (Read more)

For example, once we set a certain percentage increase in pay in wages, the Fed may consider switching to 2% inflation rate.
Jerome Powell: (02:20:59)
Well, we've said that we.
High Level Abstractions:

(fed,inflation)
Inferred entity relationships (16)
(fed,federal_reserve,supervisory) [inferred]
(fed,federal_reserve,weather) [inferred]
(fed,unemployment) [inferred]
(fed,federal_reserve,wage) [inferred]
(fed,federal_reserve,governor) [inferred]
(fed,federal_reserve,growth) [inferred]
(fed,interest) [inferred]
(fed,federal_reserve,solvency) [inferred]
(fed,risks) [inferred]
(fed,influence) [inferred]
(fed,federal_reserve,sir) [inferred]
(fed,federal_reserve,speech) [inferred]
(fed,governments) [inferred]
(fed,monetary) [inferred]
(fed,growth) [inferred]
(fed,wage) [inferred]

WIP (Read more)

Obviously, FSOC did.
Jerome Powell: (01:03:26)
As you mentioned, we have looked at that at FSOC, and I believe it was part of the recent annual report, that the thought being, these are now very, very important channels through which mortgages are originated. And in a case of a downturn, the banks have high capital, they've got lots of regulation, lots of liquidity and that's in a good place
High Level Abstractions:

(banks,capital)
Inferred entity relationships (37)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(banks,regulators) [inferred]
(banks,fed) [inferred]
(capital,insurance) [inferred]
(banks,federal_reserve) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(banks,the_fed) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(banks,risks) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(banks,interest) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(banks,economy) [inferred]
(capital,clients) [inferred]

WIP (Read more)

So as the fiscal year 2020 Appropriation Law directs treasury department in consultation with the banking agencies to study whether any changes in banks'regulatory capital requirements are needed because of [Sesil 02:07:26]. If the study concludes that that is the case, are you open to modifying regulatory capital requirements accordingly.
Jerome Powell: (02:07:36)
Well, yes
High Level Abstractions:

(banks,capital)
Inferred entity relationships (37)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(banks,regulators) [inferred]
(banks,fed) [inferred]
(capital,insurance) [inferred]
(banks,federal_reserve) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(banks,the_fed) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(banks,risks) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(banks,interest) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(banks,economy) [inferred]
(capital,clients) [inferred]

WIP (Read more)

We'll continue to expand with the economy and then we are-
Mr. McHenry: (22:57)
Are you doing a review on your capital requirements for financial institutions that should be participating in the repo market.
Jerome Powell: (23:06)
Well, I think we've reviewed supervisory and regulatory practices that may be affecting the flow of liquidity.
High Level Abstractions:

(capital,liquidity)
(capital,regulatory)
(capital,supervisory)
Inferred entity relationships (25)
(capital,technology) [inferred]
(capital,regulatory) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

WIP (Read more)

So as the fiscal year 2020 Appropriation Law directs treasury department in consultation with the banking agencies to study whether any changes in banks'regulatory capital requirements are needed because of [Sesil 02:07:26]. If the study concludes that that is the case, are you open to modifying regulatory capital requirements accordingly.
Jerome Powell: (02:07:36)
Well, yes.
High Level Abstractions:

(capital,regulatory)
Inferred entity relationships (24)
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

WIP (Read more)

And in a case of a downturn, the banks have high capital, they've got lots of regulation, lots of liquidity and that's in a good place. But these institutions are operating, sometimes under-funding themselves with credit lines, which might not be available
High Level Abstractions:

(capital,liquidity)
Inferred entity relationships (24)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,clients) [inferred]

WIP (Read more)

What do you think the most significant risk to the financial system is today.
Jerome Powell: (01:14:17)
I mean, I have to start by saying that I think the financial system is strong and has been materially strengthened since the financial crisis, particularly the banks, high capital, high liquidity, stress tests keep them on their toes and now they have real resolution plans.
High Level Abstractions:

(capital,liquidity)
(banks,keep)
Inferred entity relationships (37)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(banks,volcker_rule) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(keep,margin) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(banks,regulators) [inferred]
(banks,fed) [inferred]
(capital,insurance) [inferred]
(banks,federal_reserve) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(banks,the_fed) [inferred]
(capital,colleagues) [inferred]
(banks,risks) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]
(capital,clients) [inferred]

WIP (Read more)

Those would be my main focus.
Mr. I know you're aware about the Fed's work on the international insurance capital standard that has being developed for the world. I've had my reservations about entering into an international agreement that does not conform with our current state-based approach to regulating our domestic insurance companies
High Level Abstractions:

(capital,insurance)
Inferred entity relationships (24)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

WIP (Read more)

Obviously, FSOC did.
Jerome Powell: (01:03:26)
As you mentioned, we have looked at that at FSOC, and I believe it was part of the recent annual report, that the thought being, these are now very, very important channels through which mortgages are originated
High Level Abstractions:

(capital,fsoc)
Inferred entity relationships (24)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,colleagues) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

WIP (Read more)

And so I wondered if you might give some more color on that or give some reasons why you and your colleagues have been a little more hesitant to answer that.
Jerome Powell: (02:46:31)
I can't give more clarity than exists, so I'll just say again, we do expect that the core of the stress capital buffer will be incorporated into this stress test this year and we'll do that in a way that's timely for CCAR.
Mr. In our previous conversations, I think we'd had just kind of a general agreement, and don't let me overstate that if that's incorrect, that some of the aspects of this need to be calibrated, right
High Level Abstractions:

(capital,colleagues)
Inferred entity relationships (24)
(capital,regulatory) [inferred]
(capital,technology) [inferred]
(capital,institutional) [inferred]
(capital,infrastructure) [inferred]
(capital,revenue) [inferred]
(capital,clients,volumes) [inferred]
(capital,final_mile,growth) [inferred]
(capital,economy) [inferred]
(capital,shareholders) [inferred]
(capital,crisis) [inferred]
(capital,volumes) [inferred]
(capital,misallocation) [inferred]
(capital,risk) [inferred]
(capital,insurance) [inferred]
(capital,growth) [inferred]
(capital,supervisory) [inferred]
(capital,tts) [inferred]
(capital,fsoc) [inferred]
(capital,markets) [inferred]
(capital,mike) [inferred]
(capital,services) [inferred]
(capital,federal_reserve) [inferred]
(capital,liquidity) [inferred]
(capital,clients) [inferred]

WIP (Read more)

What can the U.S. do better, Chairman Powell, in order to prioritize these constant flow of cyber risks and strengthen the resilience of our financial sector.
Jerome Powell: (32:41)
I think we can, and have to, keep doing what we are doing, which is to make this really a top, if not the top supervisory priority, not just for the banks but for The Fed and for institutions across the American landscape
High Level Abstractions:

(banks,risks)
(banks,keep)
Inferred entity relationships (14)
(banks,crisis) [inferred]
(keep,margin) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(banks,the_fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

WIP (Read more)

But there's never a feeling that you have gotten to a place of comfort on that, we just have to keep working. And it's staying in the minute, learning what the new attacks are, making sure that the banks are doing the basic housekeeping
High Level Abstractions:

(banks,keep)
Inferred entity relationships (13)
(banks,crisis) [inferred]
(keep,margin) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,the_fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

WIP (Read more)

We do have this grant of independence, including the GAO exemption, and I think to keep that we need to stay with what you've given us to do, which is maximum limits, stable prices, supervise the banks, look after financial statements.
Mr. Clay: (58:30)
On another subject, will The Federal Reserve release its own proposal on the community reinvestment, and one that takes into account the needs of low and moderate income communities.
Jerome Powell: (58:44)
We haven't made a decision on that yet
High Level Abstractions:

(banks,keep)
Inferred entity relationships (13)
(banks,crisis) [inferred]
(keep,margin) [inferred]
(banks,policy) [inferred]
(banks,regulators) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,the_fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

WIP (Read more)

Community banks, state regulators and community groups have called on these agencies to extend the comment period.
High Level Abstractions:

(banks,regulators)
Inferred entity relationships (12)
(banks,crisis) [inferred]
(banks,policy) [inferred]
(banks,economy,federal_reserve) [inferred]
(banks,fed) [inferred]
(banks,federal_reserve) [inferred]
(banks,volcker_rule) [inferred]
(banks,keep) [inferred]
(banks,the_fed) [inferred]
(banks,risks) [inferred]
(banks,interest) [inferred]
(banks,capital) [inferred]
(banks,economy) [inferred]

WIP (Read more)

That's to be dealt with by fiscal authorities rather than by the monetary authority. We focus on the job you've given us, which is maximum employment and stable prices and to some extent also we're with other agencies who work on financial stability and bank supervision, as opposed to the solvency of state and local governments.
Ms. Tlaib: (01:49:27)
Yes or no, the Federal Reserve retains the ability to open emergency lending facilities
High Level Abstractions:

(employment,monetary)
Inferred entity relationships (10)
(employment,policy) [inferred]
(monetary,wage) [inferred]
(monetary,policies) [inferred]
(employment,federal_reserve) [inferred]
(employment,fed,federal_reserve) [inferred]
(monetary,outlook,policy) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(employment,fed) [inferred]
(monetary,policy,wage) [inferred]

WIP (Read more)

In general, what would you say is the lag time associated with a major change in fiscal policy.
Jerome Powell: (01:21:16)
Well, it can tend to be long, as you know. With monetary policy, we can go into a room and change interest rates, and do. Obviously, fiscal policy tends to take a lot of work and some time.
Mr. Barr: (01:21:29)
Well, let me ask you this
High Level Abstractions:

(interest,monetary)
Inferred entity relationships (8)
(monetary,wage) [inferred]
(monetary,policies) [inferred]
(monetary,outlook,policy) [inferred]
(monetary,policies,policy) [inferred]
(monetary,political) [inferred]
(interest,monetary,policy) [inferred]
(interest,policy) [inferred]
(monetary,policy,wage) [inferred]

WIP (Read more)

Those are our two statutory objectives. And those are the things that we target. I don't see us targeting a particular level of wage growth.
Ms. So have you considered adopting a floor for wage growth. For example, once we set a certain percentage increase in pay in wages, the Fed may consider switching to 2% inflation rate.
Jerome Powell: (02:20:59)
Well, we've said that we
High Level Abstractions:

(growth,wage)
Inferred entity relationships (35)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(growth,service) [inferred]
(growth,performance) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,volume) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

Wages have been rising, particularly for lower paying jobs.
Jerome Powell: (09:23)
GDP rose at a moderate rate over the second half of last year
High Level Abstractions:

(growth,jobs)
Inferred entity relationships (45)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(jobs,unemployment) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(jobs,president_trump) [inferred]
(growth,service) [inferred]
(jobs,reform) [inferred]
(growth,performance) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(jobs,manufacturing) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(jobs,quarters) [inferred]
(growth,policy) [inferred]
(jobs,president_obama) [inferred]
(jobs,workers) [inferred]
(growth,interest) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(jobs,wage) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(jobs,taxes) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(jobs,policies) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

I don't think the 55 billion should be regarded as an irrelevancy or an embarrassment.
Mr. Sherman: (35:41)
Finally, as to the jobs growth we've seen recently, I do need to point out the jobs grew much faster in the last three years of the Obama administration than the first three years of the Trump administration
High Level Abstractions:

(growth,jobs)
Inferred entity relationships (45)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(jobs,unemployment) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(jobs,president_trump) [inferred]
(growth,service) [inferred]
(jobs,reform) [inferred]
(growth,performance) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(jobs,manufacturing) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(jobs,quarters) [inferred]
(growth,policy) [inferred]
(jobs,president_obama) [inferred]
(jobs,workers) [inferred]
(growth,interest) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(jobs,wage) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(jobs,taxes) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(jobs,policies) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]
(growth,spending) [inferred]

WIP (Read more)

Wages have been rising, particularly for lower paying jobs.
Jerome Powell: (09:23)
GDP rose at a moderate rate over the second half of last year. Growth in consumer spending moderated toward the end of the year following earlier strong increases, but the fundamental supporting household spending remained solid
High Level Abstractions:

(growth,spending)
Inferred entity relationships (35)
(growth,productivity) [inferred]
(growth,retail_services) [inferred]
(growth,kramer) [inferred]
(growth,sentiment) [inferred]
(growth,service) [inferred]
(growth,performance) [inferred]
(growth,labor) [inferred]
(growth,monetary) [inferred]
(growth,markets) [inferred]
(growth,year-over-year) [inferred]
(growth,institutional) [inferred]
(growth,west_coast) [inferred]
(growth,policy) [inferred]
(growth,interest) [inferred]
(growth,jobs) [inferred]
(growth,subscription) [inferred]
(growth,volumes) [inferred]
(growth,monetary,policy) [inferred]
(growth,revenues) [inferred]
(growth,security) [inferred]
(growth,wage) [inferred]
(growth,volume) [inferred]
(growth,taxes) [inferred]
(growth,usmca) [inferred]
(growth,product) [inferred]
(growth,product,revenue) [inferred]
(growth,model) [inferred]
(growth,services) [inferred]
(growth,top-line) [inferred]
(growth,trade) [inferred]
(growth,president_obama) [inferred]
(growth,omb) [inferred]
(growth,tts) [inferred]
(growth,workers) [inferred]
(growth,revenue) [inferred]

WIP (Read more)

In January, Vice Chairman Quarles delivered a speech where he spoke about bringing "reasonable transparency" to several aspects of the Federal Reserve's supervisory and regulatory framework. Last week, The Fed released the CCAR stress test scenarios.
Ms. Wagner: (30:57)
To my knowledge, there has been no progress or update on the status of the stress capital buffer, apart from continued assertions by you and Vice Chair Quarles, that aspects of the proposal will be incorporated in the 2020 CCARs
High Level Abstractions:

(federal_reserve,regulatory)
Inferred entity relationships (6)
(federal_reserve,growth) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(federal_reserve,monetary) [inferred]
(federal_reserve,policy) [inferred]
(federal_reserve,speech) [inferred]

WIP (Read more)

And that's the reason that you are here today.
Ms. Pressley: (02:52:08)
So in the interest of time, if you would indulge me an answer as succinctly as possible, yes or no, Mr. Chairman, given persistent concerns about inflation, do you believe the Federal Reserve can achieve full employment. And by full employment, I mean anyone who wants to work and can work will have a job available to them.
Jerome Powell: (02:52:29)
First, thank you for that history
High Level Abstractions:

(employment,federal_reserve)
Inferred entity relationships (11)
(federal_reserve,growth) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(employment,fed,federal_reserve) [inferred]
(federal_reserve,monetary) [inferred]
(federal_reserve,speech) [inferred]
(employment,policy) [inferred]
(federal_reserve,regulatory) [inferred]
(employment,monetary) [inferred]
(federal_reserve,policy) [inferred]
(employment,fed) [inferred]

WIP (Read more)

FDIC Board Member, Martin Gruenberg, voted against comptroller outings proposal describing it as, "A deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act."
Ms. Waters: (15:50)
And in remarks last month, Federal Reserve Board Governor Brainard, said that, "Given that reforms to the CRA regulations are likely to set expectations for a few decades, it is more important to get the reforms done right than to do them quickly
High Level Abstractions:

(cra,federal_reserve)
Inferred entity relationships (8)
(federal_reserve,growth) [inferred]
(federal_reserve,regulatory) [inferred]
(federal_reserve,governments) [inferred]
(federal_reserve,risks) [inferred]
(cra,fed,federal_reserve) [inferred]
(federal_reserve,monetary) [inferred]
(federal_reserve,policy) [inferred]
(federal_reserve,speech) [inferred]

Target rule match count: 261.0 Challenge: 0.17 Momentum: 0.03 WIP: 0.30