Pat McHenry: “Since President Biden took office, we have experienced inflation rates not seen since the late 1970s and early 1980s.”

We need to get to the bottom of whether or not this is a supervisory problem, a regulatory problem, a bank mismanagement problem, perhaps all three.

This is a matter of real substance for the independence of the Fed and the rulemaking at the Federal Reserve.

Jay Clayton is a fantastic leader and will bring credibility to the DNI job!

I thank the Chair, and I thank the panel for being with us today to continue our investigation of the poisonous culture at the FDIC.