Federal Reserves Monetary Policy Report for 2013: Hearing Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Thirteenth Congress, First Session on Oversight on the Monetary Policy Report to Congress Pursuant to the Full Employment and Balanced Growth Act of 1978, February 26, 2013   [open pdf - 22MB]

This is the February 26, 2013 hearing on "Federal Reserve's First Monetary Policy Report for 2013" held before the Senate Committee on Banking, Housing, and Urban Affairs. From the opening statement of Tim Johnson: "While progress toward maximum employment has been slow, it has been positive and steady, thanks in part to the Fed's thoughtful and well-measured monetary actions. Our economy has added private sector jobs for 35 straight months. During that time, over six million new jobs have been created, but we should not sacrifice those gains by slamming on the brakes now. Without a fix, automatic spending cuts will take effect in just a few days and could send our economy into reverse at a time when we should continue moving forward on creating jobs. Projections suggest that the sequester will cost us 750,000 jobs this year. In addition to layoffs for cops, fire fighters, and teachers that could devastate our communities, these cuts will impact many of our Nation's most vulnerable citizens, including kids, seniors, and the disabled. At a time when the U.S. faces an array of national security threats, the sequester will affect our military readiness. It is unacceptable that we are lurching from one manufactured crisis to the next, and Americans have had enough. These fights are bad for the economy and are making it harder for families to make ends meet." Statements, letters, and materials submitted for the record include those of the following:

Report Number:
S. Hrg. 113-6; Senate Hearing 113-6
Public Domain
Retrieved From:
Government Printing Office: http://www.gpo.gov/
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