jerry allen, i look forward to hearing your thoughts on the decision to taper asset purchases.how recent fed actions are affecting the economy and where the economy is headed. i now turn to the ranking member for his opening statement. >> thank you, chairman and welcome. on your first appearance in this committee is the chair the federal reserve board of governors. today's hearing is an important agenda to examine the current state of monetary policy. since your confirmation hearing in november the fed has begun the process of shaping its quantitative easing purchases. one the web well over $4 trillion in treasury or mortgage-backed securities. former german bernanke and others have suggested that the fed might maintain the expanded size of the balance sheet for some time rather than probably reducing it. this would mean that the reserves traded on the bank balance sheet to purchase those assets would remain in the financial system will. when one the fed will have to be vigilant to ensure the tools they have identified. these unconventional monetary policies have in my opinion

>> well, i think weather is a factor and jerry allen said yesterday as much.is hard to disentangle, that's for sure. i think that's because, even though we use seasonalized data, it's very hard to get a sense of exactly where the weather is hitting. how much is that affecting retail? you think of something like this event in atlanta where it got all iced up, all these problems. you know. if you just use temperature data or something like that and try to take the weather out of the data, you're not going to see all that damage that was done to the economy in atlanta over that 24, 48 or 72-hour period. so i think it is hard to disentangle. i do think that weather has been a factor here. i'll say something else. let's suppose it's not weather. let's suppose we get this evision down to 2.4 this morning. we'll see. and we get kind of a first quarter in the 2% range or something like that. i'm not sure i'd be less optimistic about the rest of the year. i think i'd still be optimistic about 2014 even if all that happened and even if you prove to me that it had nothin

he left the nine eleven memorial and added a new skyscraper to the skyline as woody allen in jerry seinfeld. i've only done this stamp from the big apple. and you think about broadway without playwrights like neon sign in the musical geniuses like irving berlin. in the fine arts to spilt the guggenheim museum bloggers and media giant has a lighter note this one. inge is of course helped at the moment and then to incense in june's designers and uncle local began here till like ralph lauren and diane von first ever meeting chewing an extraordinary degree of affluence and influence in this country and that he has been a terrific place for . i think of when laid out. can you see savannah cream. here jewish integration in the united states to jewish integration elsewhere on and if we re not jewish integration the united states to the experiences of other groups. giuseppe easy time in the united states the particular since first arrived in what would become meal or in sixteen fifty four these are not peculiar to live under portuguese rule he had some in personal and family memories memories of th

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