I couldn't support this bill if we shut the Fed off from Tennessee and Texas and California. Then we might as well all move to New York. New York doesn't want any more people, I am sure. They are well populated. But most of all, I want to make sure that the Main Street bankers and the small businesses of all of our States are known to the Fed, and the way they are known to the Fed, of course, as the Senator knows, is that their local Federal Reserve bank knows their issues and problems and needs, because they have the ability to serve those banks, which is not allowed in the bill before us. I thank the Senator from Tennessee for his leadership. I look forward to coming up with something we can all support.
Kay Bailey Hutchison: “I couldn't support this bill if we shut the Fed off from Tennessee and Texas and California. Then we might as well all…”
Editor's note · Context
The speaker discusses the importance of local Federal Reserve banks for small businesses and Main Street bankers.
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