but the ccar for one entity, the stress that entity may go under will be different.and so do you need all these others if the final test is the -- is the big test here the ccar? >> we believe it's a built-in suspenders approach and that they work together in a coordinated fashion. >> time for the gentleman has expired. the chair now recognizes the gentle lady from new york. >> chair yellen, i'll get to questions about regulation in a moment. but first i'd like to ask one question on monetary policy. when you testified in july, you said in response to one of my questions that one of the advantages to raising rates a little bit earlier is that, and i quote, we might have a more gradual path of rate increases, end quote. of course one of the down sides to starting to raise rates while inflation is still below target is that it could end up hurting the fragile economic recovery. fed governor recently said raising rates too early could end up, and i quote, prematurely taking away the support that has been so critical to the economy's vitality. so my question is, do you th

but the ccar for one entity, the stress that entity may go under will be different. and so do you need all these others if the final test is the -- is the big test here the ccar? >> we believe it's a built-in suspenders approach and that they work together in a coordinated fashion. >> time for the gentleman has expired. the chair now recognizes the gentle lady from new york. >> chair yellen, i'll get to questions about regulation in a moment. but first i'd like to ask one question on monetary policy. when you testified in july, you said in response to one of my questions that one of the advantages to raising rates a little bit earlier is that, and i quote, we might have a more gradual path of rate increases, end quote. of course one of the down sides to starting to raise rates while inflation is still below target is that it could end up hurting the fragile economic recovery. fed governor recently said raising rates too early could end up, and i quote, prematurely taking away the support that has been so critical to the economy's vital heity. so my question is, do yo

ccar or stress one business may go under is different from another. ccar? big test here the chair yellen: we believe it is a built in system. we believe they work together in a coordinated fashion. >> the time for the gentleman has expired. the chair recognizes the gentlelady from new york. chair yellen, i will get to questions about regulation in a moment. first, i would like to ask one question on monetary policy. when you testified in july, you said in response to one of my questions that's one of the advantages to raising rates a little earlier is that, and i quote, we might have a more gradual path of rate increases, end quote. one of the down sides is it could end up hurting the fragile economic recovery. boehner recently said raising rates to early could end up prematurely taking up its port. it has been so critical to the economy's vitality. do you think the risk of raising rates and december, before inflation reaches the fed's 2% target, outweighs the benefits? chair yellen: what me say that i see the u.s. economy as performing well. domestic spend

finally, i hope to hear her reports of how to make ccar more transparent. she must also talk about how the regulatory standards are prioritized in the ccar environment. i look forward to this particular hearing. >> today we welcome the testimony of chairwoman janet yellen. chair yellen has previously testified at our committee before, so i believe she needs no introduction. ms. yellen, your statement will be made a part of the record. you are allowed five minutes to give us an oral testimony. thank you for being here. i think you need to hit the microphone there. >> chairman henserling and other members of the committee, i appreciate the chance to testify on the regulation and supervision of financial institutions. one of the firm's fundamental goals is to promote a financial system that's strong, resilient and able to serve a healthy and growing economy. we work to ensure the safety and soundness of the firms we supervise and also to ensure that they comply with applicable consumer protection laws so that they may, even when faced with stressful financial

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the mayoral race in waterloo and ccar falls requires a candidate to win with a simple majority. if that does not happen there will be a run off election the first of december. decision 2016... republican presidential candidate governor john kasich is on a campaign swing through iowa. the ohio governor is still trying to emerge as a viable candidate from the crowded field of republican presidential contenders. this afternoon, kasich held a town hall for employees at nationwide insurance in des moines. he discussed familiar themes during his campaign event, including balancing the budget and personal interest. s/gov. john kasich (r) presidential candidate :21 "in washington, the key for a if you talk to a farmer, the farmer doesn't want less subsidy, the farmer wants more right? you got to tell the farmer, look if we can lift the country, you're going to be betterroff." tomorrow kasich heads to dubuque for another town hall, and then departs for an event in mobile, alabama. coming up... the first a-p basketball poll is out as the cyclones pick up the highest pre- season ranking in

the authority -- i heard you say earlier you do not have the authority to appropriately tailor these ccar processes for some of these smaller and community banks. >> by and large we have considerable ability to tailor what we do to fit the complexity and systemic footprint of an institution. >> what did you mean when you say we don't have the ability to day who are for smaller banks as necessary? i don't know if that's a direct quote but i tried to write down the words that you said. >> so banks $50 billion and above are under dodd frank subject to stress testing requirements and resolution plan requirements. that while we can tailor to some extent we can't completely remove. what we have found for some of the smaller institutions, the costs exceed the benefits. >> time is running out. i'd certainly be interested in having a conversation what is a better way to do that and give authority, flexibility and authority to enable you to provide the appropriate tailoring that's necessary. you look at this list of banks, jp her began base, $2.5 trillion bank, it's a lot different than the bank of