Monetary Policy and the State of the Economy

Tuesday, February 26, 2008, 10:00 a.m., 2128 Rayburn House Office Building
Full Committee

 HOUSE FINANCIAL SERVICES COMMITTEE TO HOLD HEARINGS ON MONETARY POLICY

Two-day Humphrey-Hawkins hearing to examine the state of the economy

            Washington, DC – Rep. Barney Frank (D-MA), chairman of the House Committee on Financial Services today announced that the committee will hold two days of hearings to examine the conduct of monetary policy and the state of the U.S. economy.  A panel of economists will address these issues during the first day of hearings.  The second day of hearings will be dedicated to the semi-annual testimony of Federal Reserve Chairman Ben Bernanke. 

On February 20, 2008, the Federal Reserve joined other forecasters in predicting slower economic growth, higher unemployment, and an elevated rate of inflation for the U.S. economy.  In light of these forecasts, the hearings will focus on the appropriateness of monetary policy over the past six months and consider what further actions might be taken. 

Witness List & Prepared Testimony:

• Alice Rivlin, Senior Fellow, Brookings Institution
• Mark Zandi, Chief Economist, Moody’s Economy.com
• Nouriel Roubini, Professor, NYU, and Chairman, RGE Monitor
• Carmen Reinhart, Professor, University of Maryland
• John Taylor, Professor, Stanford University

Available Member Statements: Congressman Paul

Printed Hearing: 110-92

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