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Ron Paul Hearing on the Fed's Bailout of the Euro -- 3/27/12

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Published on Mar 27, 2012

This hearing of the Domestic Monetary Policy Subcommittee focused on the Federal Reserve's bailout of the Eurozone and its impact on the U.S. economy, the monetary system, and the dollar. Particular attention was given to the Fed's central bank liquidity swap lines with the European Central Bank, which exchanged dollars for euros at extremely low rates without collateral.

The hearing was held on Tuesday, March 27, 2012, at 10 a.m. in Room 2128 of the Rayburn House Office Building and was titled, "Federal Reserve Aid to the Eurozone: Its Impact on the U.S. and the Dollar."

Witnesses:
§ William C. Dudley, President and Chief Executive Officer, Federal Reserve Bank of New York

§ Steven B. Kamin, Director, Division of International Finance, Board of Governors of the Federal Reserve System

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