American - Public | February 4, 1953 -
The Government Securities Act gave the Treasury Department some rulemaking authority over all government securities brokers and dealers. But the act also required these firms to register with the SEC.
Jerome Powell
GovernmentAuthorityOverActSome
I support adjustments designed to enhance the efficiency and effectiveness of regulation without sacrificing safety and soundness or undermining macroprudential goals.
GoalsSupportSafetyEfficiency
An efficient payments system provides the infrastructure needed to transfer money in low-cost and convenient ways. Efficient systems are innovative in improving the quality of services in response to changing technology and changing demand.
TechnologyMoneyQualityImproving
The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. If businesses expect slower growth to continue, that will also hold down investment.
GrowthGreatFinancialDownCrisis
To ensure financial stability, we expect the provision of U.S. government securities settlement services to be robust in nearly all contingencies.
GovernmentFinancialStabilityExpect
Higher asset prices increase wealth and, with a lag, induce higher spending.
WealthAssetPricesHigherLag
Emerging market economies have long grappled with the challenges posed by large and volatile cross-border capital flows.
ChallengesLongCapitalMarketLarge
As with so many sectors of the economy, technology is transforming the retail banking sector.
TechnologyEconomyBankingRetail
The GSEs became powerful advocates for their own bottom lines, providing substantial financial support for political candidates who supported the GSE agenda.
SupportFinancialPoliticalPowerful
Legislative reforms in the 1990s and the public/private structure led managements to expand the GSEs' balance sheets to enormous size, underpinned by wafer-thin slivers of capital, driving high shareholder returns and very high compensation for management.
BalanceManagementDrivingSizeHigh
The Federal Reserve is committed to fulfilling our statutory mandate of stable prices and maximum employment.
Federal ReserveEmploymentCommitted
The success of monetary policy should be judged by the economy's performance against our statutory mandates of price stability and maximum employment.
SuccessPerformancePriceEconomy
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