Recently, Representative Frank D. Lucas (OK-03), Chairman of the House Financial Services Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, hosted a field hearing in Oklahoma City discussing the importance of the federated structure of the Federal Reserve system with the Reserve Banks providing geographic and industrial expertise.
“It was a great day in Oklahoma City hosting several respected witnesses and hearing their perspective on the importance of our Federal Reserve structure,” said Representative Lucas. “The private-public partnership Reserve Banks have with our central bank serves as a check against the federal government dominating our monetary system. Our nation has many differing viewpoints, and our central bank is at its best when it reflects a comprehensive perspective of economic conditions. I thank the witnesses and my fellow colleagues for their time in my home state, and I look forward to continuing this discussion during this critical time.”
The witnesses included:
· Mr. Thomas Hoenig – Distinguished Senior Fellow, Mercatus Center at George Mason University
· Ms. Ester George – Former President and CEO, Federal Reserve Bank of Kansas City
· Mr. Gary Kelly – Deputy Chair, Board of Directors, Federal Reserve Bank of Dallas
· Mr. Benjamin Keen – Associate Professor of Economics, University of Oklahoma
Click here to watch Rep. Lucas’s opening remarks.
Click here to watch the Federal Reserve’s impact on agriculture economy in the heartland.
Click here to watch the Beige Book’s impact on bringing regional perspectives to the Federal Reserve.
