Questioning Chairman Bernanke -- Day Lee Briefing 10/4/2011

Press Release

Sen. Lee has committee meetings on the environmental impact of oil shale, immigration and the agricultural industry, and will hear testimony from the Federal Reserve Chairman Ben Bernanke. He also meets with representatives from the Utah Trucking Association and Utah Rural Association, and holds his weekly Utah press tele-conference in the afternoon.

From the Senator's Desk

From Senator Lee's opening remarks to the Joint Economic Committee hearing with Federal Reserve Chairman Ben Bernanke (as prepared for delivery):

Moreover, I am troubled by the Federal Reserve's role in bailing out troubled banks, creating asset bubbles through artificially low interest rates, and the general veil of secrecy under which the Federal Reserve typically operates.

Recently, we received reports of the Fed's role in bailing out banks in Europe to the tune of several trillion dollars. This decision was not made with the knowledge or consent of Congress. And with the banking crisis in Europe ongoing as we speak, we do not know what the Federal Reserve might be doing there now or in the future. Although the Fed may not be legally obligated to inform anyone of all of its actions, many are of suc

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