Political Quotes

“and colleagues, Chairman Hatch has made a number of important points this morning. I wish to follow up and give a little bit of an update on where we are and touch on one issue that has not been discussed. First, under Chairman Hatch's leadership, both sides have been working together in good faith with respect to the amendments, and I think it would be fair to say the chairman and I are optimistic that we can have a good and fair list of amendments. That is No. 1. I wish to commend both the Democrats and the Republicans who were part of that amendment discussion. Second, with respect to the currency issue which Chairman Hatch has addressed--and I certainly share his views--I would also sum it up by saying the Hatch-Wyden approach on currency provides a wider array of tools to deal with the currency issue without undermining our monetary policy. That is really the heart of the Hatch-Wyden proposal. We wanted to come up with the widest possible array of tools but at the same time not undermine monetary policy. That is what Janet Yellen has been concerned about. She has always been concerned about what would happen if, Heaven forbid, we had another financial crisis. She doesn't want her hands tied or the hands of the Fed tied in terms of being able to fight that challenge. We know that during that period of quantitative easing, a number of countries said the United States was manipulating our currency. Now, of course, that was an outrageous assertion.…”