U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after the Financial Institutions and Consumer Credit Subcommittee and the Monetary Policy and Trade Subcommmittee joint hearing entitled “Examining the Relationship Between Prudential Regulation and Monetary Policy at the Federal Reserve.”

“Since it became law in 2010, Dodd-Frank has rewarded the Federal Reserve with sweeping regulatory powers despite the Fed’s contributions to the last financial crisis,” Luetkemeyer said. “Financial institutions operate in a world of ambiguous guidance and aggressive enforcement. There is a near unanimous feeling that document productions fall into a black hole, with the Fed providing little to no meaningful feedback on supervisory issues. It is past time to take the power out of Washington and demand a reasonable financial regulatory structure. Thank you to the Monetary Policy and Trade Subcommittee Chairman Andy Barr for his continued efforts to ensure the Fed’s monetary policy decisions that impact the daily lives of Americans are made in a sound, unbiased manner.”