That is talking about going forward.

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

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.'

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

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.

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

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.

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.

So you take no responsibility on this.