WATCH: @RepAndyBarr on opportunities to make enhancements to the function of the Fed: “We should be constantly striving to improve upon a system that does work.” 📺⬇️

WATCH: @RepTimMooreNC on how the Fed should address affordability issues: “… I believe that affordability is a legitimate issue around the economy and around the country. And I can tell you that a lot of the things that we've done in Congress, whether it's [the 21st Century Road to Housing Act] to try to increase housing supply, whether it's a lot of the regulation reform to allow more energy to hopefully deal with that, that is probably the issue that I hear about the most. It's certainly not something that happened overnight; probably four years of a lot of spending, during and after Covid, contributed greatly to that.” 📺⬇️

WATCH: @RepAndyBarr on the Fed’s failure to address interest rates in previous years: "However, as you all know, there are critics of the Federal Reserve. And in recent history, a good example of critics pointing out that the Fed made a major mistake in 2021 is its underestimating how persistent inflation would become by describing it as 'transitory,' waiting too long to begin raising interest rates, and continuing quantitative easing, purchasing $120 billion per month in Treasury and MBS all the way through March 2022, when CPI was already almost 9%." 📺⬇️

WATCH: @RepFrankLucas questions witnesses on the importance of each Fed board ensuring the bank is representative of the community it serves, to which Mr. Kelly responds: “Well, I think diversity, you know, taken in all forms, is really helpful. We have a very large country. We have a very complex economy. … we have 12 banks that are independent of each other. At the same time, I’ve been impressed on how they do collaborate. So each district has its uniqueness. … Beyond energy, if you just take current conditions [and] all the discussion around AI, every board that I'm on is deeply interested and concerned about those opportunities. And having a diversity of voices available to us who are knowledgeable about data centers, knowledgeable about energy, knowledgeable about water, and in such a huge emerging issue, is absolutely invaluable.” 📺⬇️

WATCH: @RepTimMooreNC on how the Fed is structured: “Unlike most central banks around the world, the Federal Reserve was is intentionally designed as a decentralized system, as it's been testified to previously, one that combines the national policy making with regional representatives. Congress recognized the economic conditions in New York may look different than those for example in my home state of North Carolina and, of course, here in Oklahoma. The Federal Reserve system was designed to ensure that monetary policy and banking supervision would be informed not only by data coming out of Washington, also experiences of businesses and consumers from around the country. That regional perspective is particularly important for states like my home state, and I would say probably most states outside of some of the major banking or policy areas.” 📺⬇️

WATCH: @Rep_Davidson on the Fed’s independent structure: “You know, constituents do talk about the Federal Reserve. Now, I won't say it's going to make prime time news normally, but, you know, when we talk about the structure, one of the things that people wonder, ‘what did we create when we created the federal reserve?’ You talk about it's accountable, but one of the main ways anybody's accountable to Congress is the power of the purse. And the Fed was sort of created as an autonomous entity in a way. And you say independent and people wonder, ‘well, how independent?’" 📺⬇️

WATCH: @RepAndyBarr on consolidating federal financial regulatory authority: “Legislation has been proposed in our committee over several different terms of Congress in my time in service to consolidate federal regulatory agencies, and maybe this is a bit of a radical idea, but fold some of the regulatory and supervisory functions of the Fed into the OCC and the FDIC. Those proposals haven't gone anywhere. But I have always heard the argument from defenders of the Fed that the economic intelligence of having supervisory responsibility over the banking system is very useful for monitoring economic conditions, for financial stability functions of the Fed, and also informing monetary policy.” 📺⬇️

WATCH: @RepFrankLucas questions witnesses on whether a decentralized Federal Reserve system produces better monetary policy outcomes than a central bank concentrated in Washington, D.C., or New York City. Mr. Hoenig responds: “So you really find yourself coming to a better conclusion about what the policies should be, whether you can agree or can't, and how you can form a policy that all can live with and is in the best interest of the country as a whole. And I don't think you can get that if you're all centered in Washington, looking at aggregate data and looking backward.” 📺⬇️

WATCH: Task Force Chairman @RepFrankLucas delivers opening remarks at today's field hearing: “Whether it’s the inelasticity of demand, risk management practices, or the impact of global markets, equipment leasing, and the weather forecast – all of these issues determine how the economy moves through farm country. Monetary policy transmission is different in Oklahoma than it is in New York. That’s why it’s so important that our farmers and ranchers have a seat at the table when monetary policy decisions are being made.” 📺⬇️

HAPPENING NOW: Chairman @RepFrankLucas convenes the Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity hearing entitled: "Examining the Structure of the Federal Reserve System." 📺Tune in x.com/i/broadcasts/1RJZzzrdp…

We must hold China accountable to end money laundering and stop criminal actors.

Homeownership is a cornerstone of the American Dream. In CA, the cost of reaching that dream has skyrocketed. Our district’s median home price now exceeds $1.2 million. I helped advance the 21st Century ROAD to Housing Act to increase housing & make homeownership attainable again.

National Homeownership Month underscores the importance of expanding access to affordable housing and creating pathways to homeownership. Through initiatives like the House's bipartisan 21st Century ROAD to Housing Act, the Committee is working to increase housing supply, reduce barriers, and help more Americans achieve the American Dream.

This week, I met with the Financial Services Institute in my D.C. office. We discussed my work on @FinancialCmte and how we can continue building on our efforts to expand opportunity for American families.

WATCH: @RepTimmons on whether the CBDG-DR’s current structure is working: “Over the last three decades, congress has appropriated more than $100 billion through CDBG-DR, yet concerns persist about delays, administrative complexity, overlapping responsibility, and oversight challenges. While CDBG-DF is often described as a flexible tool for addressing unmet recovery needs after FEMA, SBA insurance, and other assistance have been exhausted, that flexibility comes with tradeoffs. Because the program lacks a standing authorization and permanent regulations, each supplemental appropriation can bring a different set of requirements, waivers, timelines, and reporting obligations. The question before us is whether that approach is producing better outcomes for disaster victims or creating additional barriers to recovery.” 📺⬇️

Today in the @FinancialCmte, I questioned witnesses on how to make federal disaster recovery faster, simpler, and more accountable. Victims of natural disasters deserve assistance that is easy to navigate, not duplicative programs, added bureaucracy, and unnecessary delays. Watch my questions below ⬇️

WATCH: @RepTroyDowning on HUD’s role in disaster aid: “Victims of natural disasters, they expect the deployment of federal assistance to be as seamless as possible, with guardrails as appropriate. And like most federal programs, there are inefficiencies that need to be addressed with how the federal government handles disaster recovery. However, some in Congress have taken this to mean that we must make permanent a new program entirely. One of which has already been shown to be an inefficient complement to traditional disaster aid.” 📺⬇️

WATCH: @RepMonicaDLC on concerns with Sec. 501 of the Senate’s version of the 21st Century Road to Housing Act: “The Senate's version of the 21st Century ROAD to Housing Act included a proposal to codify the CDBG-DR program. I've had extensive outreach on this proposal, including from my largest county, Hidalgo County, and the judge in Hidalgo County, who highlighted concerns with how that section is currently written. One of the specific concerns highlighted is the current formula does not treat rural counties fairly.” To which Ms. Lagrone replied, “ Yes, ma’am, I agree.” 📺⬇️

WATCH: @RepJohnRose on CDBG-DR failures: “The Community Development Block Grant Disaster Recovery … program is slow, duplicative, and routinely fails the very people it is supposed to help. Communities don't need a second clunkier system layered on top of the first. They need help that actually shows up on time. … Disaster recovery should be handled in one place by one agency that is built for it. Instead, we have drifted into a fragmented approach that slows everything down. It is time to end the experiment, consolidate recovery where it belongs at FEMA, and let housing officials focus on housing again.” 📺⬇️

Yesterday, I questioned experts from the CIA, U.S. Treasury, and others during my @FinancialCmte Subcommittee hearing on Chinese money laundering networks that are financing drug traffickers like the Sinaloa Cartel. These networks are laundering billions of dirty cartel dollars to fuel the fentanyl crisis. This is a highly sophisticated operation that is killing American citizens. President Trump has taken bold action to address the fentanyl crisis, reducing cross-border fentanyl trafficking by 56% in just the first few months of his administration by closing our southern border and designating drug cartels as foreign terrorist organizations. Watch my interview on @Newsmax where I break down our hearing, the impact of the Iranian regime’s reign of terror, and more.