It’s important that Congress continues to support the resilience of the Treasury derivatives markets as these instruments are so closely linked to the bedrock of the global financial system.
Congress should continue to support the resilience of the Treasury derivatives markets.
Occurrences
Today, Representative Frank D. Lucas (OK-03), Chairman of the House Financial Services Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity, delivered opening remarks at a hearing examining derivatives’ role in the Treasury market.
Evidence
House Financial Services Committee Chairman French Hill announced a new Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force for the 119th Congress, led by Rep. Frank Lucas, with hearings planned on monetary policy and Treasury debt markets.
During a task force hearing on the Treasury-Fed Accord, Frank Lucas said Congress should be part of the conversation and said he planned to introduce a resolution to strengthen the Treasury market’s resiliency and depth.
Assessments
Frank D. Lucas took concrete congressional steps toward the stated goal, including signaling a resolution and leading a task force on Treasury market resilience, but the record does not show enacted policy or a completed legislative outcome. That supports partial credit for active advancement, not full delivery.