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Ron Paul Hearing with Tom Hoenig: The Fed's Impact on the Economy -- 7/26/11

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Uploaded on Jul 27, 2011

This hearing of the Domestic Monetary Policy Subcommittee focused on the regional Federal Reserve Bank perspective of the role of the Federal Reserve in the economy, especially with regard to its mandate of price stability and full employment. The Subcommittee examined the extensive liquidity operations undertaken by the Federal Reserve over the past few years; actions by the Federal Reserve going forward, including the potential, as indicated by Federal Reserve Chairman Ben Bernanke, of an additional program of quantitative easing; and the outlook for inflation, unemployment, and GDP growth. The hearing also discussed the exit strategies available to the Federal Reserve given its considerable involvement in the economy, the size of its balance sheet, and the excess reserves held by the banking system.

The hearing was held on Tuesday, July 26, 2011, at 2 p.m. in Room 2128 of the Rayburn House Office Building and was titled, "Impact of Monetary Policy on the Economy: A Regional Fed Perspective."

Witness:
ยง Dr. Thomas M. Hoenig, President, Federal Reserve Bank of Kansas City

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