On the recordMarch 3, 2022
Madam President, since President Biden took office, we have seen historic job growth and a dynamic economy. Wages are rising, and they are rising fastest for working-class Americans. But despite this significant economic progress, today, too many American families are still facing pressing economic challenges: a global pandemic now entering its third year, ongoing disruptions to international supply chains that result in rising prices, and now the economic shocks caused by Putin's aggression, his invasion of Ukraine and the response by the West--a united effort to impose sanctions on Russia, which will also have consequences for the global economy. The Federal Reserve exists, in part, to address issues just like these. The Fed doesn't just set interest rates and control our money supply; it oversees banks, ensures efficient and reliable payments, promotes consumer protection and community development. When our economy is facing such foundational challenges like the ones we are up against right now, it is crucial our institutions are at full strength.…
Source
govinfo.gov




