| Speaker | Time | Text |
|---|---|---|
|
Debates and Decisions Shaped
00:03:55
|
||
|
unidentified
|
Charter Communications. | |
| Charter is proud to be recognized as one of the best internet providers. | ||
| And we're just getting started. | ||
| Building 100,000 miles of new infrastructure to reach those who need it most. | ||
| Charter Communications supports C-SPAN as a public service along with these other television providers, giving you a front-row seat to democracy. | ||
| It isn't just an idea. | ||
| It's a process. | ||
| A process shaped by leaders elected to the highest offices and entrusted to a select few with guarding its basic principles. | ||
| It's where debates unfold, decisions are made, and the nation's course is charted. | ||
| Democracy in real time. | ||
| This is your government at work. | ||
| This is C-SPAN, giving you your democracy unfiltered. | ||
| Federal Reserve Chair Jerome Powell offered this response to the U.S. Attorney's Office's criminal probe of renovations happening under his direction of the Federal Reserve headquarters here in Washington, D.C. Here's what he had to say. | ||
| Good evening. | ||
| On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. | ||
| That testimony concerned, in part, a multi-year project to renovate historic Federal Reserve office buildings. | ||
| I have deep respect for the rule of law and for accountability in our democracy. | ||
| No one, certainly not the chair of the Federal Reserve, is above the law. | ||
| But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure. | ||
| This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. | ||
| It is not about Congress's oversight role. | ||
| The Fed, through testimony and other public disclosures, made every effort to keep Congress informed about the renovation project. | ||
| Those are pretexts. | ||
| The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president. | ||
| This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead monetary policy will be directed by political pressure or intimidation. | ||
| I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. | ||
| In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. | ||
| Public service sometimes requires standing firm in the face of threats. | ||
| I will continue to do the job the Senate confirmed me to do with integrity and a commitment to serving the American people. | ||
| Thank you. | ||
| Fundamentally, why are they supportive? | ||
| They're supportive because they know that the U.S. winning means a world where you basically have private companies remaining private companies. | ||
| And so fundamentally, that's a world where a lot of them feel still has a place for them, offers a place for their own companies to be able to compete fairly. | ||
| The alternative is a world where companies are competing against a nation state, which is a completely different equation. | ||
| And so ultimately, part of what Paxilika is, is it's really not an effort to, you know, focus on China or on isolating any other country. | ||