Its time to realistically assess the Federal Reserve.
Texas Insider Report: WASHINGTON D.C. This year marks the 100th Anniversary of the Federal Reserve so its appropriate for Congress to assess the economic record of the Federal Reserve" said Cong. Rep. Kevin Brady Chairman of the Joint Economic Committee while announcing an April 18 2013 the Joint Economic Committee hearing on the Federal Reserve its attempts to use monetary policy to bolster the U.S. economy and the overall effectiveness of the Federal Reserve. The hearing will convene on ... April 18th at 9:30 a.m. in room 216 of the Hart Senate Office Building.
This is especially timely since America is experiencing a troubling growth gap and faces lower potential economic growth for the future." Brady (R-TX) said.Since its becoming increasingly clear there are limits to what monetary policy
can achieve in the pursuit of the dual mandate its time to realistically assess the Federal Reserves ability to close the growth gap and discuss refocusing the Fed toward a sound dollar as a foundation for certainty and long-term economic growth" the Chairman stated.
The Federal Reserve is taking unprecedented actions to attempt to drive employment gains in the absence of effective economic policies from the White House Brady said.
The following persons are scheduled to testify:
- The Hon. John B. Taylor Ph.D. Mary and Robert Raymond Professor of Economics at Stanford University and the George P. Shultz Senior Fellow in Economics at the Hoover Institution.
- Dr. Adam S. Posen President Peterson Institute for International Economics
