Congressman Barr appointed as ranking member of the finance subcommittee
WASHINGTON, DC (WTVQ) – On May 18, US Congressman Andy Barr (KY-06) was appointed a ranking member of the House Financial Services Subcommittee on National Security, International Development and Policy monetary.
This subcommittee is responsible for overseeing the Federal Reserve System, as well as national and international fiscal policy. Congressman Barr served as chairman of this subcommittee during the 115e Congress.
“I am delighted to serve again as the Republican leader of the subcommittee on national security, international development and monetary policy,” said Congressman Barr. “I would like to thank McHenry, ranking member, for this nomination. The current environment demonstrates the crucial role the subcommittee plays. China continues to threaten US competitiveness, and US sanctions policy is more important than ever. “
Congressman Barr went on to say, “What’s more, the impact of monetary policy is becoming increasingly evident to everyday consumers, with the real consequences of skyrocketing spending and inflation hitting their wallets. This subcommittee plays a crucial role at the intersection of the financial system and national security, and provides meaningful oversight of the Federal Reserve’s monetary policy activities. He added: “As a leading member of the subcommittee, I will prioritize the preservation of a fair international financial system and the Federal Reserve to remain independent, free from political and public relations pressure. , and does not stray from its congressional-led mandate.
“I am proud to announce that Congressman Barr is the new Republican to head the Subcommittee on National Security, International Development and Monetary Policy,” said Patrick McHenry (R-NC), Republican leader of the House financial services. “Andy has been instrumental in the work of House Republicans to counter the economic aggression of the Communist Party of China, including as a member of the China Task Force. As Republicans continue this vital work, I know he will use his past experience to bring common sense solutions to the intersection of national security and our financial system.
The Subcommittee on National Security, International Development and Monetary Policy is responsible for legislation in the House relating to:
- The impact of monetary policy on the economy, financial action on interest rates, the allocation of credit and the structure and functioning of national financial institutions.
- International exchange
- International investment policies, both with respect to U.S. investments for business purposes by U.S. citizens and investments made by all foreign entities in the U.S.
- United States Sanctions Policy
- The Export-Import Bank, the International Monetary Fund (IMF) and the World Bank
- Coins, coins, currency and medals, including commemorative coins and medals, proofs and coins and other special coins, and counterfeiting