United States Senate Banking Subcommittee on Economic Policy

The Senate Banking Subcommittee on Economic Policy is one of five subcommittees within the Senate Committee on Banking, Housing, and Urban Affairs

United States Senate Committee on Banking, Housing, and Urban Affairs

The United States Senate Committee on Banking, Housing, and Urban Affairs has jurisdiction over matters related to: banks and banking, price controls, deposit insurance, export promotion and controls, federal monetary policy, financial aid to commerce and industry, issuance of redemption of notes,...

Jurisdiction

The Subcommittee on Economic Policy oversees economic growth

Economic growth

In economics, economic growth is defined as the increasing capacity of the economy to satisfy the wants of goods and services of the members of society. Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand...

, employment

Employment

Employment is a contract between two parties, one being the employer and the other being the employee. An employee may be defined as:- Employee :...

and price stability, federal monetary policy

Monetary policy

Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...

, including the policy functions of the Federal Reserve System

Federal Reserve System

The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...

; the Council of Economic Advisers

Council of Economic Advisers

The Council of Economic Advisers is an agency within the Executive Office of the President that advises the President of the United States on economic policy...

; money

Money

Money is any object or record that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally in the past,...

and credit

Credit (finance)

Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...

, including currency

United States dollar

The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

, coinage

United States coinage

United States coinage was first minted by the new republic in 1792. New coins have been produced every year since then and they make up a valuable aspect of the United States currency system. Today circulating coins exist in denominations: $0.01, $0.05, $0.10, $0.25, $0.50, and $1.00. Also minted...

, and notes

Banknote

A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...

; control of prices of commodities, rents and services; economic stabilization and defense production; the Defense Production Act

Defense Production Act

The Defense Production Act is a United States law enacted on September 8, 1950, in response to the start of the Korean War. It was part of a broad civil defense and war mobilization effort in the context of the Cold War. Its implementing regulations, the Defense Priorities and Allocation System ,...

; financial aid to commerce and industry; loan guarantees; flood insurance

National Flood Insurance Program

The National Flood Insurance Program is a program created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968 . The program enables property owners in participating communities to purchase insurance protection from the government against losses from flooding...

; and disaster assistance carried out by the Federal Emergency Management Agency

Federal Emergency Management Agency

The Federal Emergency Management Agency is an agency of the United States Department of Homeland Security, initially created by Presidential Reorganization Plan No. 1 of 1978 and implemented by two Executive Orders...

within the Department of Homeland Security

United States Department of Homeland Security

The United States Department of Homeland Security is a cabinet department of the United States federal government, created in response to the September 11 attacks, and with the primary responsibilities of protecting the territory of the United States and protectorates from and responding to...

Members, 112th Congress

The Committee is chaired by Democrat Jon Tester

Jon Tester

Jon Tester is the junior U.S. Senator for Montana, serving since 2007. He is a member of the Democratic Party. He previously served as President of the Montana Senate.-Early life, education, and farming career:...

of Montana

Montana

Montana is a state in the Western United States. The western third of Montana contains numerous mountain ranges. Smaller, "island ranges" are found in the central third of the state, for a total of 77 named ranges of the Rocky Mountains. This geographical fact is reflected in the state's name,...

, and the Ranking Minority Member

Ranking member

In United States politics, a ranking member is the second-most senior member of a congressional or state legislative committee from the majority party. Another usage refers to the most senior member of a congressional or state legislative committee from the minority party. This second usage, often...

is Republican David Vitter

David Vitter

David Vitter is the junior United States Senator from Louisiana and a member of the Republican Party. Previously, he served in the United States House of Representatives, representing the suburban Louisiana's 1st congressional district. He served as a member of the Louisiana House of...

of Louisiana

Louisiana

Louisiana is a state located in the southern region of the United States of America. Its capital is Baton Rouge and largest city is New Orleans. Louisiana is the only state in the U.S. with political subdivisions termed parishes, which are local governments equivalent to counties...

Majority	Minority
Jon Tester Jon Tester Jon Tester is the junior U.S. Senator for Montana, serving since 2007. He is a member of the Democratic Party. He previously served as President of the Montana Senate.-Early life, education, and farming career:... , Montana, Chairman Mark Warner Mark Warner Mark Robert Warner is an American politician and businessman, currently serving in the United States Senate as the junior senator from the Commonwealth of Virginia. He is a member of the Democratic Party. Warner was the 69th governor of Virginia from 2002 to 2006 and is the honorary chairman of... , Virginia Kay Hagan, North Carolina Tim Johnson, South Dakota	David Vitter David Vitter David Vitter is the junior United States Senator from Louisiana and a member of the Republican Party. Previously, he served in the United States House of Representatives, representing the suburban Louisiana's 1st congressional district. He served as a member of the Louisiana House of... , Louisiana, Ranking Member Roger Wicker Roger Wicker Roger Frederick Wicker is the junior U.S. Senator from Mississippi and a member of the Republican Party. In December 2007 he was appointed by Governor Haley Barbour to fill the seat vacated by Trent Lott. He subsequently won the 2008 special election for the remainder of the term. Wicker served... , Mississippi Mike Johanns Mike Johanns Michael Owen "Mike" Johanns is an American Republican politician who has been the junior United States Senator from Nebraska since 2009. Previously he was the 38th Governor of Nebraska from 1999 to 2005 and was U.S. Secretary of Agriculture from 2005 to 2007, becoming the fourth Nebraskan to hold... , Nebraska
Ex officio
	Richard Shelby Richard Shelby Richard Craig Shelby is the senior U.S. Senator from Alabama. First elected to the Senate in 1986, he is the ranking member of the United States Senate Committee on Banking, Housing, and Urban Affairs and was its chairman from 2003 to 2007.... , Alabama

External links

U.S. Senate Committee on Banking, Housing, and Urban Affairs
Senate Banking Committee subcommittee list and membership page

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Jurisdiction

Members, 112th Congress

See also

External links