Clay named top Democrat on expanded financial services panel
WASHINGTON – In the new Congress, U.S Rep. William Lacy Clay has been named the top Democrat on a revamped financial services panel with jurisdiction that includes the Federal Reserve Bank, the Export-Import Bank and the World Bank.
Clay, D-St. Louis, served in the previous Congress as the ranking Democrat on a less expansive subcommittee with oversight over the Fed and domestic monetary policy. But the new panel – the Subcommittee on Domestic & International Monetary Policy and Technology – adds oversight of major international monetary organizations.
That is likely to be of considerable interest among some big firms with operations in St. Louis, such as Boeing Co., which has been the largest beneficiary of the Export-Import Bank’s guaranteed loans in recent years.
In a statement Tuesday, Clay said the revamped subcommittee “will greatly impact the economic health of our nation and the world. Our focus will be growing jobs, expanding international trade, keeping interest rates low and restoring economic security for working families.”
https://www.stlbeacon.org/#!/content/28899/clay_financial_committee?coverpage=2536
