* * * Chairman Hensarling, Ranking Member Waters, and members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. On the occasion of my first appearance before this Committee as Chairman of the Federal Reserve, I want to express my appreciation for my predecessor, Chair Janet Yellen, and her important contributions.
We have to make financial services more accessible, and create conducive conditions for the development of innovations in the financial sector. All of that, and many other things, are envisaged by the NBU’s Strategy for the Development of the Financial Sector until 2025. This requires five years of work, if not more.