Congressman Jeb Hensarling

Representing the 5th District of Texas

Jeb Hensarling Talks About Economic Growth And Holding The Federal Reserve Accountable On CNBC And Bloomberg TV

Jul 12, 2017
Press Release

WASHINGTON—Congressman Jeb Hensarling (TX-5), Chairman of the House Financial Services Committee, today spoke with CNBC’s Squawk Box and Bloomberg TV’s Bloomberg Daybreak ahead of the committee’s hearing with Federal Reserve Chair Janet Yellen.

Click here to watch CNBC Squawk Box or click here to watch Bloomberg Daybreak.

Highlights from CNBC:

Questioning Yellen: “I want to know what is going to happen to the size and composition of the [Federal Reserve] balance sheet. Will interest on excess reserves continue to be the main monetary policy tool? This is not your father’s monetary policy, this is not your father’s Fed. We are in uncharted territory. We’ve kept rates too low for too long.”

Addressing The Past: “Had we had higher [interest] rates prior to 2008, we might not have had the crisis. That’s the other side of the coin as well.”

Repealing And Replacing Obamacare: “Things will happen when we pass fundamental tax reform and when the Senate finally passes a health care bill because we know what a burden Obamacare has been upon our economy.”

Future Of The Fed: “President Trump needs to fill these positions on the Fed. I hope that we will get a Fed that will give us more predictable strategy-based policy.”

Highlights from Bloomberg:

Combating Financial Crisis: “Keeping rates too low for too long was a huge contributing factor to our last financial crisis. I want to make sure it’s not a contributing factor to the next.”

Selective Intervention: “It is worrisome to have a Fed that intervenes selectively in particular credit markets as opposed to a more holistic macroeconomic impact on our economy.”

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