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David Grove's MyC-SPAN

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    Monetary Policy and the Economy

    Federal Reserve Chair Janet Yellen testified before the Senate Banking, Housing, and Urban Affairs Committee on the central bank’s semi-annual Monetary Policy Report to Congress. Chair Yellen told committee members the Fed is likely to keep interest rates low “for some time” in the face of uneven economic growth. She also commented on the possible effects of the United Kingdom leaving the European Union, adding that the Federal Reserve would be monitoring the outcome for potential consequences.

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    Senate Bipartisan Gun Control Proposal

    Senator Susan Collins (R-ME) and eight other senators from both parties presented proposed compromise gun-control legislation the day after four gun-control amendments failed on the Senate floor. The bipartisan “Terrorist Firearms Prevention Act of 2016” would prevent people on the No Fly List or the Selectee List from purchasing firearms. Senator Collins said that she hoped the House would give her bipartisan proposal a vote. She reminded her House colleagues that a majority of Americans support such legislation.

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    U.S. Africa Command and National Guard Bureau Nominations

    A confirmation hearing was held for the nomination of Lieutenant General Thomas Waldhauser to lead U.S. Africa Command and Lieutenant General Joseph Lengyel to be the chief of the National Guard Burea. Senator John Cornyn (R-TX) introduced Lieutenant General Lengyel. During his testimony Lieutenant General Waldhauser said that he was not aware of an “overall grand strategy” in Libya and that additional ground troops were not needed at the moment.

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    Air Force Chief of Staff Confirmation Hearing

    General David Goldfein testified at a hearing on his nomination to be Air Force chief of the staff. As vice chief of staff for the Air Force, General Goldfein was also seeking reappointment to the grade of general. He responded to questions on the state of the Air Force, including its personnel strength and challenges in retaining trained pilots and experienced officers, as well as inquiries on the states of various equipment and aircraft programs that had been affected by budget cuts.

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    Transnational Organized Crime

    Former Ambassador William Brownfield testified on the threat of transnational organized crime to U.S. and global security. He talked about U.S. efforts against drug trafficking, human trafficking, and the smuggling of wildlife, weapons, and other property. He also spoke about corruption around the globe and its existence as an enabler for transnational criminal activity. He said that while much progress has been made against such types of crimes on many fronts, much work remains to be done.

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    CIA Intelligence Activities

    CIA Director John Brennan testified at a hearing on his agency’s operations and resources. He called ISIS* in Libya the most dangerous branch of the terror organization. He also outlined some key threats the next president will need to address, including cybersecurity, ISIS, and nuclear proliferation.

    * The Islamic State of Iraq and Syria (ISIS), the Islamic State of Iraq and the Levant (ISIL), or DAISH/DAESH in Arabic is a militant group that has called itself the Islamic State.

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    Securities and Exchange Commission Operations

    Mary Jo White testified at an oversight hearing on what her Securities and Exchange Commission agency is doing to protect investors. She answered several questions on the effectiveness of corporate disclosures and Wall Street regulations.