At a hearing before the Senate Banking Committee on her nomination to become Vice Chair of the Federal Reserve Board, Governor Lael Brainard argued that monetary policies must be "focused on getting inflation back down to 2 percent while sustaining a recovery."
In testimony before the Senate Banking Committee at a hearing on his nomination for a second term, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, concluded that the economy no longer needs the highly accommodative policies in place to deal with the pandemic and the aftermath.
House Financial Services Committee Chair Maxine Waters (D-CA) challenged FDIC Chair Jelena McWilliams' efforts to block a Request for Information on potential revisions to the FDIC's Bank Merger Act regulations.
Maxine Waters (D-CA), Chair of the House Financial Services Committee, called on the Federal Reserve Board, the FDIC and the OCC to "impose a moratorium on approving any large merger and acquisition application resulting in a banking entity that would have more than $100 billion in total assets."
The U.S. House of Representatives Rules Committee declined to amend the National Defense Authorization Act for Fiscal Year 2022 to include the Secure And Fair Enforcement Banking Act of 2021. The House Rules Committee's action follows similar action from the Senate.
At a hearing on CARES Act oversight before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Treasury Secretary Janet Yellen and Federal Reserve Board Chair Jerome Powell described post-pandemic economic recovery policy.