Lucas Questions Chair Powell on SLR Reform

Washington, DC – Today, the House Financial Services Committee held its semi-annual hearing with Federal Reserve Chair Jerome Powell to examine monetary policy and the state of the economy.

As Chair of the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, Congressman Frank D. Lucas (OK-03) opened the hearing with one-minute remarks. The Task Force is charged with examining the monetary policy tools of the Federal Reserve and the resilience of the Treasury market.

You can watch his remarks by clicking here or on the image below.

Congressman Lucas also questioned Chair Powell on whether or not he would consider exempting Treasuries and reserves from the SLR and eSLR, a move Congressman Lucas has long advocated for.

You can watch this exchange by clicking here or on the image below.

BACKGROUND:

Congressman Lucas recently led a letter to Chair Powell urging him to alter the SLR and eSLR.

The Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity was created at the beginning of the 119th Congress. You can find more information on the Task Force here.

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