On the recordFebruary 3, 2009
Do you have any concerns, Dr. Volcker, that if the Fed assumes too many responsibilities, its ability to conduct monetary policy could be undermined?
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congress.govDo you have any concerns, Dr. Volcker, that if the Fed assumes too many responsibilities, its ability to conduct monetary policy could be undermined?
Shelby questions the Fed's capacity to manage monetary policy if overloaded with responsibilities.
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I am concerned about this--what this communicates to both our allies and our adversaries.
What is the biggest challenge here? Is it lack of interest? Is it lack of - something?
As Senator Shelby at our Senate testimony hearing last March pointed out to us, we must maintain what we have before we can build new, and I think he hits the mark head-on.