Skip to Content

Federal Reserve

ICYMI: Ranking Member Waters Hosts Roundtable with Former Fed Vice Chair Dr. Lael Brainard on Threats to the Federal Reserve’s Independence

| Posted in Press Releases

   This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, led Committee Democrats including Representatives Brad Sherman (D-CA), Stephen Lynch (D-MA), Al Green (D-TX), Joyce Beatty (D-OH), Juan Vargas (D-CA), Ayanna Pressley (D-MA), and Sylvia Garcia (D-TX), in a roundtable discussion with former Federal Reserve Vice…

Ranking Member Maxine Waters During Roundtable Discussion on Fed Independence: “Trump’s Actions Could Lead to Unprecedented Levels of High Inflation and Undermine the Savings, Retirement Funds, And Wages of Hard-Working Families.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following statement during a roundtable conversation with Former Federal Reserve Board Governor and Vice Chair, Dr. Lael Brainard, to examine threats to Fed independence in light of Trump’s attempted removal of Fed Governor Lisa Cook. “We are here today because the…

Ranking Member Maxine Waters and Congressman Juan Vargas Lead Committee Democrats in Urging Chairman Hill to Hold Hearing on Trump’s Attacks on the Federal Reserve

| Posted in Press Releases

In 2021, Chairman Hill affirmed that members of “both parties should fight for central bank independence.” Lawmakers urge: “That point is now. We should not sit idly by as mere observers while the President attempts to undermine the Federal Reserve’s independence with any tool he can find.” Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services…

Ranking Member Maxine Waters Leads Committee Democrats in Calling on FHFA to Investigate the Propriety of and the Process Behind Allegations About Fed Governor Lisa Cook

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, and Committee Democrats sent a letter to Acting Inspector General of the Federal Housing Finance Agency, John Allen, requesting an investigation into the propriety of and the process behind FHFA's allegations into Fed Governor Lisa Cook. In the letter, Ranking Member Waters and…

Ranking Member Maxine Waters’ Statement on Trump’s Unconstitutional, Authoritarian Attempt to Fire Dr. Lisa Cook

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Donald Trump’s late-night attempt to fire Federal Reserve Board Governor, Dr. Lisa Cook. “This is what authoritarianism looks like. Donald Trump’s attempt to fire Dr. Lisa Cook is a flagrant, dangerous assault on the independence of the…

Waters, Warren Demand Fed Reconsider Its Decision to Rubber Stamp Dangerous Capital One-Discover Merger

| Posted in Press Releases

Read letter here Congresswoman Maxine Waters (D-CA), Ranking Member of the House Financial Services Committee, and U.S. Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, wrote to the Federal Reserve Board of Governors (Fed) calling for a reconsideration of the anti-competitive Capital One-Discover merger that the Fed recently…

Ranking Member Maxine Waters Commends Chair Powell for Standing Firm Against Trump’s Unlawful Plans to Fire Him

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released the following statement after President Trump capitulated and said he currently has “no intention” to fire the Chair of the Board of Governors of the Federal Reserve System (Fed), Jerome Powell. “I commend Chair Powell for standing strong in defense of the Federal Reserve’s…

Ranking Member Maxine Waters Slams Trump Administration’s Approval of Capital One-Discover Merger

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Office of the Comptroller of Currency (OCC) and the Board of Governors of the Federal Reserve System’s (Fed) decision to approve the Capital One’s acquisition of Discover. “The Trump Administration’s approval of the Capital One-Discover merger…

Ranking Member Maxine Waters Blasts Trump’s Illegal Ouster of National Credit Union Administration Board Members, Concerned Federal Reserve May Be Next

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following President Trump's illegal firing of the two Democrats on the board of the National Credit Union Administration (NCUA) without cause. “Trump’s firing of the two Democrats on the board of the National Credit Union Administration is a…

Ranking Member Maxine Waters at Task Force Hearing: “There’s more pain to come.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a hearing with the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, entitled, “U.S. Treasury Debt in the Monetary System.” While we examine ways to strengthen the resilience of the Treasury market, it…

Ranking Member Maxine Waters: “We Should Reject These Misguided Policies that are Raising the Cost of Living for Most Families, While Elon Musk and the Billionaire Class Push for Their Taxes to be Cut.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Service Committee, delivered the following statement during a Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity hearing entitled, “Examining Monetary Policy and Economic Opportunity.” As prepared for delivery Thank you very much, Mr. Chairman. If we really want to…

Ranking Member Maxine Waters, Congressmen Al Green and Bill Foster Urge GAO and Inspector General to Investigate Illegal CFPB Shutdown

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee; Congressman Al Green (D-TX), the Ranking Member on the Subcommittee on Oversight & Investigations; and Congressman Bill Foster (D-IL), the Ranking Member on the Subcommittee on Financial Institutions, sent a letter to the Government Accountability Office and the Inspector General for…

Ranking Member Maxine Waters Leads Democratic Members in Urging Financial Services Agencies to Defy Trump’s Illegal Anti-DEIA Order and Uphold Legally Mandated Efforts

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee led key House Democrats, including Congresswoman Nydia M. Velázquez (D-NY), Congressman Al Green (D-TX), Congressman Emanuel Cleaver, II (D-MO), Congresswoman Joyce Beatty (D-OH), Congresswoman Rashida Tlaib (D-MI), Congresswoman Sylvia Garcia (D-TX), Congressman Cleo Fields (D-LA),…

Ranking Members Maxine Waters and Elizabeth Warren Demand Banking Regulators Keep Elon Musk’s DOGE Out of Their Agencies

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee and Senator Elizabeth Warren (D-MA), the top Democrat on the Senate Committee on Banking, Housing, and Urban Affairs sent a letter to banking regulators, including the Federal Reserve, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and National Credit…

Ranking Member Maxine Waters to Chair Powell: “You Must Stand Firm in Defending the Fed’s Independence, Reject Any Attempt by Elon Musk and His DOGE Minions to Gain Access to the Fed, Its Systems and Data.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Good morning, everyone. Welcome, Chair Powell.  Our country is on the precipice of an economic disaster unlike any we’ve seen in…

Ranking Member Maxine Waters’ Statement on Michael Barr’s Resignation as Vice Chair of Supervision of the Federal Reserve

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following Michael Barr’s announcement that he planned to step down from his leadership role as Vice Chair of Supervision of the Board of Governors of the Federal Reserve System (Fed) following reports that Trump’s advisers were weighing the decision to demote him.…

Why Elon Musk Is Wrong About the Federal Reserve

| Posted in Press Releases

In response to Elon Musk’s post on X (formerly Twitter) falsely claiming that the Federal Reserve (“the Fed”), the independent central bank in charge of protecting the entire United States economy, is “absurdly overstaffed,” Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, issued this fact sheet to educate him and the public on what the…

Ranking Member Waters Delivers Opening Statement During Hearing with Banking Regulators: “This Is Not What the American People Voted For.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee hearing entitled, “Oversight of Prudential Regulators.” Thank you very much Mr. Chairman. Vice Chair Barr, Chair Grueneberg, Chair Harper and Acting Comptroller Hsu, I want to thank each of you and all of your…

Ranking Member Waters’ Statement on Federal Reserve’s First Interest Rate Cut Since Pandemic

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, released this statement following the Federal Reserve’s latest decision to cut interest rates by 50 basis points.  “I applaud the Federal Reserve for making the necessary decision to cut interest rates by 50 basis points. When the Federal Reserve made the decision to start hiking…

Ranking Member Waters Testifies Against Proposed Capital One-Discover Merger at Regulators’ Public Meeting

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following remarks at an all-day virtual meeting convened by the Federal Reserve and the Office of the Comptroller of the Currency (OCC). This meeting allowed members of the public to share their views on the proposed merger of Capital One and Discover. Thank you very…

ICYMI: Ranking Member Maxine Waters Highlights Democrats' Work to Strengthen Economy, and Address the Housing Crisis During Hearing with Chair Powell

| Posted in Press Releases

   This week, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, spoke with Federal Reserve Chair Jerome H. Powell during a full Committee hearing. During the hearing, Congresswoman Waters highlighted the booming economy and discussed several critical economic issues with the Chairman: Strong Economy: Congresswoman Waters…

Maxine Waters, Ranking Member, Delivers Opening Statement During Hearing with Federal Reserve Chair Powell: “Unfortunately, Extreme MAGA Republicans Are Not Just Ignoring Housing Inflation, They Are Advancing Their Project 2025 Manifesto That Would Dismantle U.S. Democracy and the Economy as We Know It Today.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full Committee hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report.” Thank you very much, Mr. Chairman. Welcome back to the Honorable Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve…

Ranking Member Waters Opposes Anti-CBDC Legislation on House Floor: “This Bill Is…An Attempt to Stifle U.S. Innovation and Competitiveness Abroad, and to Undermine the Federal Agency that is the Most Critical to Fighting Inflation.”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, took to the House floor to oppose H.R. 5403, the “CDBC Anti-Surveillance State Act,” which would prohibit the issuance of a central bank digital currency and prohibit the Federal Reserve from holding bank reserves that are critical to operating payment systems and combatting…

Waters, McHenry Send Bipartisan, Bicameral Letter to Regulators Urging Timely Implementation of the Financial Data Transparency Act

| Posted in Press Releases

The top Democrat on the House Financial Services Committee, Congresswoman Maxine Waters (D-CA); the Chairman of the House Financial Services Committee, Congressman Patrick McHenry (R-NC); U.S. Senator Mike Crapo (R-ID); and, U.S. Senator Mark Warner (D-VA) sent a letter to federal financial regulators urging them to implement their respective obligations under the Financial Data…

Maxine Waters, Ranking Member, Delivers Opening Statement During Hearing with Banking Regulators: “All Employees Deserve a Work Environment Where They Feel Safe, and it is Chair Gruenberg’s Responsibility to Make Sweeping Changes…”

| Posted in Press Releases

Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a full committee hearing entitled, “Oversight of Prudential Regulators.” Thank you very much Mr. Chairman. Good morning. I’d like to thank our witnesses from the Federal Reserve, the FDIC and the OCC for coming before the Committee…

Back to top