Political Quotes

“I thank the gentleman for yielding. As you mention, we were on it this week with the presence of Chairman Powell at our select subcommittee hearing. Chairman Powell made two things very clear to us. Number one, he says it would be a big mistake to put the brakes on too soon; that we must allow families to get back on their feet, communities to get restored. And he advised against us doing anything too soon. He also made it very clear that if he and the Fed were to make some determination that inflation is becoming a problem, the Fed could deal with it. You may recall that he indicated that a lot of the price increases have come about as a result of bottlenecks that have existed in the system as people are gearing back up, and he thinks that is going to be temporary. He also feels that if it looks like this is going to go beyond being temporary, that he has the tools to make the kind of adjustments that are at least necessary to keep the economy flowing and to keep inflation in check. I think that on my side of the aisle, we are very comfortable following the advice of Chairman Powell, and I would hope that this is an issue that will not get politicized. We need to get this country back on track. We need to get families back in touch with each other. We need to keep this country moving in a positive way. So I think we are going to wait and take advice from Chairman Powell on whether we should do anything legislatively to deal with that issue.”