Patrick McHenry actually said...

So, does the Federal Reserve have the legal authority to implement negative rates?

McHenry questions the Fed's authority on negative interest rates.

02/09/2016

More Patrick McHenry Quotes

But when we are talking about Federal policy, subsidizing a $500,000 house is very different than helping somebody who is trying to get--

I think it was bad policy to raise the loan limits back up.

the key thing to understand was that FHA and our fellow housing programs were intended for the least among us, not the greatest among us.

So if we just left this as it is currently structured, we could be back here having this same hearing in 5 years.