Frank Lucas: “Unfortunately, both of the proposals from the Federal Reserve will drive up the cost of hedging for end users.”

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

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 spent much time screaming about the potential impacts of the Basel capital requirements on the American economy.