Representative Davidson discusses the impact of paying interest on excess reserves held by banks with the Federal Reserve and proposes the Prohibition on the Interest on Excess Reserves (IEER) Act to eliminate this practice, aiming to return the economy to a free market state. Chairman Powell defends the practice, highlighting its role in banks' cost management and lending incentives. Davidson also raises concerns about the Federal Reserve's negative cash flow and advises against the development of a central bank digital currency. Highlights: ? Representative Davidson proposes the Prohibition on the Interest on Excess Reserves (IEER) Act to eliminate paying interest on excess reserves held by banks with the Federal Reserve. ? Chairman Powell defends the practice, citing its role in banks' cost management and lending incentives, asserting it doesn't hinder lending behavior. ? Davidson raises concerns about the Federal Reserve's negative cash flow, pointing out its operating loss and the need to return to cash flow positivity. ? Powell discusses the Federal Reserve's contributions to the Treasury Department during periods of quantitative easing and explains the impact of raising rates on paper losses. ⚖️ Davidson urges halting efforts to develop a central bank digital currency, stating it is unnecessary and unwarranted. ___________________________________________________________________________________________________ THANKS, A BUNCH FOR WATCHING❗️ PLEASE LIKE, SUBSCRIBE, and SHARE❗️ WATCH THE FULL PLAYLIST HERE: ➡️ https://bit.ly/3FJ4O6M ✅ Embark on an exciting journey with GotBackup, the fastest-growing online company in 2023, offering a revolutionary online backup and recovery solution?. Changing the digital landscape, GotBackup provides a secure?, reliable, and easy-to-use service, catering to individuals and businesses aiming to SAFEGUARD their VITAL DATA. The growing reliance on digital data underlines the necessity of our solution, as it ensures your data is always accessible and secure?. But the benefits don't stop there?. GotBackup also presents an unmatched business opportunity? through its lucrative affiliate program. You can build a robust passive income stream, earning up to 200%? commission on referrals. Leverage the power of online advertising and influencer marketing, and seize this chance to be part of GotBackup's explosive ?growth in 2023?. Don't hesitate! JOIN US, and SECURE your FREE position in the Powerline today!? ✅ ➡️ https://bit.ly/3oQDcYX ✅Check out PonchyNews New Merch Shop! Get cool Patriot shirts, hats, bags, mugs, etc. We have something for everyone, children, women, men, and even the pups! Check us out HERE: ➡️ https://ponchynews.myspreadshop.com/ THANKS, A BUNCH FOR WATCHING❗️ PLEASE LIKE, SUBSCRIBE, and SHARE❗️ WATCH THE FULL PLAYLIST HERE: ➡️ https://bit.ly/3FJ4O6M ________________________________________________________________________________________________ ALL SOCIAL MEDIA: ✅TRUTH SOCIAL: ➡️ https://truthsocial.com/@ponchynews ✅GETTR: ➡️ https://gettr.com/user/ponchynews ✅GAB: ➡️ https://gab.com/PonchyNews ✅FACEBOOK: ➡️ https://www.facebook.com/PonchyNews ✅TWITTER: ➡️ https://twitter.com/PonchyNews ✅RUMBLE: ➡️ https://rumble.com/user/PonchyNews Interested In Starting a YouTube Channel? Here are some MUST-HAVE TOOLS to help get you started! ✅VidIQ Link: ➡️ https://vidiq.com/ponchynewz ✅Keywords Everywhere Link: ➡️ https://kwe.ai/l9DYyf ✅TubeBuddy Affiliate Link: ➡️ https://www.tubebuddy.com/bdufrene27 We now have the ability for anyone who loves the videos I put out to help support the channel, it's called SUPER THANKS. The tab is right underneath the video, and ALL contributions are EXTREMELY APPRECIATED! The links ABOVE are affiliate links, and I make a tiny commission if a purchase is made. I TRULY Want To THANK anyone who helps support the channel and my family, it is GREATLY APPRECIATED! ... https://www.youtube.com/watch?v=gNl6qjH8Yyw