Pat McHenry

We need insight into the decisions and decision-making processes of the financial regulators related to the 2nd- and 3rd-largest U.S. bank failures.

Today, let us put aside the pre-baked narratives that have dominated the political discourse.

I will finish with this: We need competent financial supervisors, but Congress can't legislate competence.

I urge you to reject the idealogues who put their social agenda ahead of economic prosperity.

Inflation rapidly accelerated after Democrats passed their so-called American Rescue Plan, which poured nearly $2 trillion of inflationary fuel into the economy.

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

Democrats are pressuring the Fed to stray from its narrow mandate. It is a page out of their same old progressive playbook.

Thank you, Chairman Powell, for your testimony today. This week, you stated that the Fed will, 'stay the course until the job is done,' and that job is to restore price stability.

President Biden's kowtow into the far left is what got us into this inflationary mess.

The Fed will, 'stay the course until the job is done,' and that job is to restore price stability.

Too many Americans feel unheard and cutoff from the legislative process.

We are at a pivotal moment for our financial system and the economy as a whole.

We are glad you are before the committee that actually does have a data security law for financial firms.

So yes, the CCP is a great threat, but when we work together across the aisle especially, and put people over politics, we can mount a focused response to increase our economic competitiveness and produce good clean jobs right here at home…

They can never compete with a free and open society that allows for free enterprise and prosperity like in the United States.

The Chinese Communist Party maintains a surveillance state with a great firewall and no freedom of speech, no freely-exchangeable currency and no rule of law.

They are centralized. We are decentralized. They are closed. We are open.

We must double down on our commitment to free people in free markets.

This committee will lead this Congress' economic agenda and response to China.

The actions of the Chinese Communist Party (CCP) last week serve as a clarifying moment that China is not an ally or a strategic partner.

But they can never compete with a free and open society that allows for free enterprise and prosperity like in the United States.

They suppress free speech and human dignity. We embrace it.

It is obvious that the CFPB's lack of transparency is of grave concern.

I think every Member had something important and very, very thoughtful to say about what is taking place...

You are implementing progressive policies at the expense of both consumers seeking financial products and market participants trying to comply with the law.