Governor, when you look at some of the concerns, of course, regarding what we're going to do at the ECB, like how do you see the ECB in a good place in terms of inflation for the moment. We are in a good place, but there is no reason for complacency. There are risks that are two sided.First of all, the trade war. Tariffs for is creating risks to the upside. But even more, we see risks to the downside in a sense that our own projection is indicating that inflation is likely to be below target for 18 months.A ...

how we're going to look back on 2025. Yeah. How will historians look back on this year.Is it pivotal. Uh it's clearly an important it's an important year. There's uh there's a lot going on, you know, with trade and uh I think I'm hopeful that we'll look back on it as a as a year that where we sign signific successfully challenged some significant economic changes and you know our job is to make sure that that is the case.you you get attacked by by the president a lot on a personal basis. Does it make your j ...

I have a little more than 10 months left on my term as chair. I want to hand over to my successor an economy in in good shape and all I want and all anybody at the Fed wants is to deliver an economy that has, you know, price stability, maximum employment, financial stability. That's what keeps me awake at night is are we on a path to do that and how do we how do we get that done.Do you plan to stay on as Fed governor after your your chair term expires. I have nothing for you on that. ...

When you look at trade negotiations right now, could they actually change the outcome of the European economy. Well, I think that there's going to be a very relevant factor. And if you see, for instance, if you watch our our predictions, they are different alternatives, different different scenarios according to the different outcomes that we might have.I hope that, you know, the negotiations will be finalized. So at least this, you know, will deliver a little bit of predictability because now, you know, th ...

I want to start with this data and maybe we can spend some time on a palace intrigue later on. Jobless claims, initial claims lower than expected, continuing claims higher than expected and creeping higher over the past few months. From your vantage point, president title, how much weight would you put on one versus the other.And what's the labour market picture look like in your point of view, your opinion. Well, the labor market is shaping up to be solid and the data today confirmed that. Now, continuing ...

Fed Chair Jay Powell testified before the House Financial Services Committee yesterday, telling lawmakers that he's in no rush to lower rates. Pal will be back this morning for round two in front of the Senate Banking Committee. But joining us right now is the chairman of the Financial Services Committee, French Hill.Um French, thank you very much for being with us. Mr. . Chairman, you um saw everything that Chairman Pal had to say yesterday, and I guess I'd ask first, was there anything in his remarks that ...

We see the same thing you do in the in the housing market. It's it's tough. There's not uh people are locked in.They can't afford to get out of their house because the cost of getting to a higher mortgage higher higher price mortgage would be would be a lot. So, um the best thing we can do though is to get inflation sustainably down to 2% and have it stay there over a long period of time. A long period of time.And that that is really what we can offer to them. Um, and I think, you know, to so if you go back ...

We realize that people are feeling high housing costs and high financing costs. Um, in terms of inflation, uh, we we look at something called owner's equivalent rent and rentals and and that's meant to capture both rented housing and owned housing. And it's been very sticky. You know, it's been one of the one of the stickiest parts of inflation.I'm happy to say now it actually is coming down quite regularly. That's very good news. That's been the part really, it's been the service inflation that's been stic ...

Gentleman yields back. Gentleman from California, Mr. . Licardo, is recognized for five minutes.Thank you, Mr. . Chair. Mr.. Chairman, thank you for your testimony today. I I appreciate that your dual mandate is full employment uh and price stability and I appreciate your efforts on behalf of our country to achieve those. My understanding is that critical data is collected by the Bureau of Labor Statistics to help u formulate the indicators that you rely on that we rely on to understand unemployment rates, ...

The gentleman from Wisconsin, Mr. . Style, who's also the chair of our subcommittee on digital assets, financial technology, and artificial intelligence. You're recognized for five minutes.Thank you, Chairman Hill. Thank you, Chairman Powell, for being with us today. I want to dive into two actions the Fed's recently taken uh to get a little additional color on.Yesterday, uh the Fed announced uh that reputational risk would no longer be a component in bank exams. Uh I viewed that positively. I viewed u the ...