The U.S. House Financial Services Committee has named Congressman Frank Lucas to chair its newly formed Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity. The Task Force will take a look at what the Federal Reserve Bank does to help stabilize markets through its monetary policy decisions and the health of the U.S. Treasury market.
“This new Task Force is a recognition that the monetary policy actions of the Federal Reserve deserve the focus and distinct attention of this Committee.
“The Task Force will evaluate the mechanisms the Fed uses to target stable prices and assess how to achieve economic prosperity for all Americans.
“Another important focus of this Task Force will be on the health of the U.S. Treasury market. We will examine Treasury market resilience, Treasury auction demand, and market pressure on primary dealers driven by a massive increase in U.S. debt. Treasury market liquidity is critical to the smooth functioning of capital markets and impacts everything from insurance reserves to pension funds,” said Lucas when he was named chair of the Task Force.
Lucas also will work on the Subcommittee on Capital Markets and the Subcommittee on National Security, Illicit Finance, and International Financial Institutions within the House Financial Services Committee.
