PIERRE, (KCCR) — Last week, South Dakota Senator Mike Rounds questioned Federal Reserve Chairman Jerome Powell during a hearing on the Basel III Endgame and high inflation. Basel III grew from the Basel Committee on Banking Supervision after the financial crisis in the late 2000’s. Rounds confronted Powell on comments he made about wanting a consensus moving forward…
Rounds expressed a number of concerns relating to Basel III about lending and the impact on smaller banks. Powell says adjustments are certainly possible…
Rounds also asked Powell about the Fed’s attempt to bring inflation down…
The questions came from a Banking, Housing and Urban Affairs hearing on the Semiannual Monetary Policy Report.
