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Waters Holds Full Committee Hearing on Inflation, Corporate Profiteering, and Supply Chain Bottlenecks
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, gave the following statement at a full Committee hybrid hearing entitled, “The Inflation Equation: Corporate Profiteering, Supply Chain Bottlenecks, and COVID-19.”
Today, we will continue the discussion we began with Chair Pro Tempore Powell last week about the economy and the causes of inflation and its impact on families across this country.
Last Friday, we received another strong jobs report, which showed that 678,000 jobs were added to the economy in the month of February. The record setting job creation we saw during the first year of the Biden Administration continues. Indeed, thanks to the American Rescue Plan, signed into law by President Biden, the U.S. has had a stronger economic recovery than any other advanced economy worldwide. Wages and salaries for workers grew by 4.5% in 2021, which is the highest pay increase for workers since 1983. Importantly, these wage increases have been most significant for low-income workers…
Read Chairwoman Waters’ full statement HERE.
Waters Announces Committee Appropriations Victories in 2022 Omnibus Legislation
This week, Chairwoman Waters (D-CA) announced the victories that the Committee successfully secured in the 2022 omnibus spending bill — legislation that provides Congress with the legal authority needed to spend or obligate U.S. Treasury funds. The legislation includes several priorities of Democratic members of the Financial Services Committee that Congresswoman Waters championed as Chairwoman of the Committee.
Chairwoman Waters worked with both Democratic and Republican members on her committee and several other committees, in both chambers of Congress, to make sure that these important provisions were included in the final Appropriations bills.
Read Chairwoman Waters’ full statement HERE.
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Member Spotlight
| Congresswoman Alexandria Ocasio-Cortez (D-NY) |
Congresswoman Ocasio-Cortez (D-NY) serves on the Subcommittee on National Security, International Development and Monetary Policy.
Weekend Reads
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Committee Hearings
This week, the Committee convened a full Committee hybrid hearing entitled, “The Inflation Equation: Corporate Profiteering, Supply Chain Bottlenecks, and COVID-19.” The hearing continued the discussion that began at last week’s full Committee hearing with Fed Chair Pro Tempore Powell about the state of the economy and how we can tackle inflation and its impact on families across this country.
Upcoming Committee Dates
- UPDATED - March 17 at 10:00 AM ET: The full Committee will convene for a hybrid markup.
- March 29 at 10 AM ET: The full Committee will convene for a hybrid hearing entitled, “The Future of Money: Assessing the Benefits and Risks of a U.S. Central Bank Digital Currency.”
- March 30 at 10:00 AM ET: The Task Force on Artificial Intelligence will convene for a hybrid hearing entitled, “Keeping Up with the Codes – Using AI for Effective RegTech.”
- March 30 at 2:00 PM ET: The Subcommittee on Investor Protection, Entrepreneurship and Capital Markets will convene for a hybrid hearing entitled, “Oversight of America's Stock Exchanges: Examining Their Role in Our Economy.”
- March 31 at 10:00 AM ET: The Subcommittee on Consumer Protection and Financial Institutions will convene for a hybrid hearing entitled, “The End of Overdraft Fees? Examining the Movement to Eliminate the Fees Costing Consumers Billions.”
All hearings are livestreamed on https://democrats-financialservices.house.gov/live/.
Committee activities are finalized once an official notice is issued by the House Financial Services Committee. Visit https://democrats-financialservices.house.gov/calendar/ for the most up-to-date Committee schedule.
Chairwoman’s Corner
Waters Statement on President Biden’s Executive Order on Digital Assets, Including Cryptocurrencies, Stablecoins, and Central Bank Digital Currencies
Chairwoman Maxine Waters (D-CA), Chairwoman Waters released the following statement in response to President Biden’s Executive Order on Digital Assets:
“President Biden’s Executive Order on digital assets is an important step in furthering our understanding of how cryptocurrencies and other digital assets will shape the future of our financial system and of our society. Of particular note, I am heartened to see that the Executive Order places an emphasis on studying the potential of a U.S. central bank digital currency (CBDC). With working families across the country looking to rebuild from the pandemic by turning to financial alternatives like cryptocurrency, ensuring that people are not vulnerable to fraud, manipulation, and abuse is imperative.
“As Chairwoman of the Financial Services Committee, I am proud that our Committee has been a leader in exploring the emergence of digital assets, convening hearings and briefings on cryptocurrency-related investor and consumer protection issues, the potential of central bank digital currencies, the role of cryptocurrency market exchanges, and the rapid rise of stablecoins...”
Read Chairwoman Waters’ full statement HERE.
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