When President Trump first nominated you as Federal Chair in 2017, you testified, actually in this very room, I think, that you intended to, quote, 'consider appropriate ways to ease regulatory burdens for the banks.'

For the many of us who are concerned that further rate hikes could do more harm than good, this is welcome news.

The challenge you face, Chair Powell, is to ensure that workers continue to see higher wages, while also continuing to rein in inflation.

That is talking about going forward.

For the largest multinational corporations, inflation has been a perfect excuse to increase profits by raising prices far beyond the costs of their inputs.

When President Trump first nominated you as Federal Chair in 2017, you testified, actually in this very room, I think, that you intended to, quote, 'consider appropriate ways to ease regulatory burdens for the banks.'

In fact, you now hold the record, in a single year the FDIC has been forced to rescue more giant failed banks on your watch than any Fed chair in American history.

I opposed your confirmation because I believed that your continued leadership would be dangerous to our financial system.

This is exactly why I opposed your nomination in 2017.

I do not believe that to have a strong economy was we must trade American jobs for corporate profits.

Last week, the Fed decided to pause interest rates hikes after ten consecutive increases, and maintain the rate at its current level.

Our banking system is broken. Twenty-three billion dollars in bailout money and there is no accountability for those at the top.

So in 2010, Congress passed Dodd-Frank to make banking regulations tougher and to avoid future bank collapses.

I do not believe that to have a strong economy was we must trade American jobs for corporate profits.

For the many of us who are concerned that further rate hikes could do more harm than good, this is welcome news.

This is exactly why I opposed your nomination in 2017.

For the largest multinational corporations, inflation has been a perfect excuse to increase profits by raising prices far beyond the costs of their inputs.

So in 2010, Congress passed Dodd-Frank to make banking regulations tougher and to avoid future bank collapses.

Do you take responsibility for your role in these bank failures?

It's little wonder, then, that when American workers see the high prices at the grocery store and the pharmacy counter and the gas pump--along with rising borrowing cost for mortgages and car loans and credit cards--they remain skeptical…

Last week, the Fed decided to pause interest rates hikes after ten consecutive increases, and maintain the rate at its current level.

I opposed your confirmation because I believed that your continued leadership would be dangerous to our financial system.

It is those workers who stand to lose the most if the Fed overdoes its rate hikes, loses sight of the dual mandate, and drives the unemployment rate back up.

For the largest multinational corporations, inflation has been a perfect excuse to increase profits by raising prices far beyond the costs of their inputs.

I do not believe that to have a strong economy was we must trade American jobs for corporate profits.