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Chairman Hill, Ranking Member Waters, and other members of the Committee, thank you for the opportunity to testify on the Federal Reserve's supervisory and regulatory activities.


My testimony today will focus on two areas.

_Chair Powell submitted identical remarks to the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, on June 25, 2025._


Chairman Hill, Ranking Member Waters, and other members of the Committee, I appreciate the

Chairman Scott, Ranking Member Warren, and Members of the Committee, thank you for the opportunity to appear before you today. I am deeply honored and grateful for the trust and confidence President Trump has placed in me by

Chairman Scott, Ranking Member Warren, and Members of the Committee, thank you for the opportunity to testify on the Federal Reserve's supervisory and regulatory activities.


My testimony today will focus on two areas. First, the

Thank you, Francisco, for the kind introduction. It is an honor to be here at the Economic Club of Miami.1 Tonight I will talk about a topic too large to ignore: the Federal Reserve's

The Federal Reserve Board and the OCC approved Morgan Stanley Bank's request for an exemption under section 23A to facilitate an internal reorganization with its affiliate in Germany.

Chairman Steil, Ranking Member Lynch, and other members of the subcommittee, thank you for the opportunity to testify on the Federal Reserve Board's (Board) work on financial sector innovation within the Division of Supervision and

Introduction

Good afternoon, thank you for the invitation to join you for the Consumer Bankers Association's CBA LIVE 2026, and for Lindsey Johnson and CBA's leadership in the industry. We have been busy at the Federal Reserve and

Thank you for the warm welcome. It is an honor to speak here at the University of Detroit Mercy.1 I spent most of my career as an economics professor before joining the Board of Governors, so I feel right at home when I am back on a u

Thank you, Professor Metrick, for the kind introduction and the opportunity to return to Yale to speak to the Yale Program on Financial Stability today.1 I have long admired and been a grateful consumer of all the insightful work you

Thank you for the opportunity to be part of this discussion.


Last year, Congress passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which provides some needed clarity to issuers of

The federal bank regulatory agencies today requested comment on three proposals to modernize the regulatory capital framework for banks of all sizes. The proposals would

The Federal Reserve Board released its 2025 audited financial statements, affirmed by an independent firm with no material misstatements. It includes audits of individual Reserve Banks and responses to COVID-19, complying with legal requirements for transparency.

The Federal Reserve Board announced enforcement actions against Lidia Estrada for falsifying documents and Brenda Fuson for misappropriating customer funds, both former employees of their respective banks.

The Federal Reserve Board has taken enforcement action against Mollie Morrow, a former employee of United Bank in Fairfax, Virginia, for embezzling bank funds.

Chairman Hill, Ranking Member Waters, and other members of the Committee, thank you for the opportunity to testify on the Federal Reserve's supervisory and regulatory activities.


My testimony today will focus on two areas.

_Chair Powell submitted identical remarks to the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, on June 25, 2025._


Chairman Hill, Ranking Member Waters, and other members of the Committee, I appreciate the

Chairman Scott, Ranking Member Warren, and Members of the Committee, thank you for the opportunity to appear before you today. I am deeply honored and grateful for the trust and confidence President Trump has placed in me by

Chairman Scott, Ranking Member Warren, and Members of the Committee, thank you for the opportunity to testify on the Federal Reserve's supervisory and regulatory activities.


My testimony today will focus on two areas. First, the

Thank you to Brookings for the invitation to speak to you this evening. Before we sit down, I thought I might offer some context for our conversation by outlining my views on the outlook for the U.S. economy and the implications for m