• 05/14/2008

    Wall Street to Main Street: Is the Credit Crisis Over and What Can the Federal Government Do to Prevent Unnecessary Systemic Risk in the Future?

    U.S. Senator Charles E. Schumer (D-NY) conviened a Joint Economic Committee (JEC) hearing to examine the current systemic risk in the U.S. financial system and the possible government and private sector solutions to protect the economy against those ongoing risks. The hearing, entitled, “Wall Street to Main Street: Is the Credit Crisis Over and What Can the Federal Government Do to Prevent Unnecessary Systemic Risk in the Future?” was held on Wednesday, May 14, 2008 at 9:30 am in Room 216 of the Hart Senate Office Building. Amidst serious economic troubles, the JEC heard from the former Chairman of the Federal Reserve Board of Governors, Paul Volcker, and experts including Douglas Elmendorf of the Brookings Institution. The expert panels helped committee evaluate the risks posed to the financial systems and offer possible solutions.
    Read More

  • 05/01/2008

    How Are High Food Prices Impacting American Families?

    U.S. Senator Charles E. Schumer (D-NY) convened a Joint Economic Committee (JEC) hearing to examine skyrocketing food prices and their impact on the pocketbooks of already-struggling middle-class families. In the wake of across-the-board price increases of groceries throughout the nation, U.S. Department of Agriculture Chief Economist Dr. Joseph Glauber offered his assessment of the underlying causes behind the dire food crisis. A representative from America’s Second Harvest, the largest domestic hunger relief organization, and the President of the National Farmer’s Union, as well as other food industry experts were on the panel.
    Read More

  • 04/25/2008

    Chairman Schumer on President Bush's Announcement that Stimulus Checks Would be Delivered to American Families a Week Ahead of Schedule

    U.S. Senator Charles E. Schumer, Chairman of the Joint Economic Committee, released a statement on President Bush's announcement that stimulus checks would be delivered to American families a week ahead of schedule:

    "It’s galling to think that taxpayers' stimulus checks will be lining the pockets of OPEC. The sad truth is that the average American family will spend almost their entire stimulus check on higher gas prices this year. Unless the administration gets OPEC to increase oil supply, Americans consumers are going to be in for a scorching summer of $4 gasoline with no relief in sight."
    Read More

  • 04/24/2008

    With Gasoline Prices at Historic Highs, Senators Vow to Block U.S. Arms Deals With OPEC Members if They Don’t Increase Oil Production

    U.S. Senator Charles E. Schumer, Byron Dorgan (D-ND), Bernie Sanders (I-VT), Bob Casey (D-PA), and Mary Landrieu (D-LA) released a letter today calling on the Bush Administration to use its leverage with the members of the Organization of Petroleum Exporting Countries (OPEC) to increase oil supplies or risk Congress holding up multi-million dollar arms deals with Saudi Arabia, the United Arab Emirates and other OPEC members.
    Read More

Joint Economic Committee