Frank Lucas: “I appreciate the Chairman holding this timely and important hearing to examine the real challenges that are facing both…”

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

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.