Frank Lucas: “The fact is the inflation is still running above the Fed's 2-percent target.”

You have reiterated how Members of the Board would like to see a revised Basel proposal put out for public comment.

I have no further requests for time, and I am prepared to close once the gentlewoman from California closes.

The CFTC's enforcement authority has been a closely watched issue during the past several years.

Thank you, Mr. Chairman, and thank you, Ranking Member, for holding this hearing, and the witnesses for agreeing to testify.