Article: MONETARY POLICY REPORT:TIM JOHNSON


Congressional Testimony
07-15-2008
Statement of Tim Johnson Senator, United States Senate Committee on Senate
Banking, Housing and Urban Affairs July 15, 2008 Chairman Dodd. Thank you
very much for holding today`s hearing. I do not think there could be a
more appropriate time for the Federal Reserve Chairman to give his Semiannual
Monetary Report to Congress. Since the last report to Congress in February,
the Federal Reserve has taken unprecedented actions using many tools in
its monetary policy tool box to affect the supply and availability of money,
and the rate of interest on that money. These actions include the lowering
of interest rates by 325 basis points over the past year, a step ...

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