Mr. Chairman, I would like to thank Dr. Ferguson for testifying today and I would like to thank you for holding this hearing.
Dr. Ferguson, I appreciate your coming to see me last week.
I think we covered a lot of ground.
As you know, I expressed my strong concerns with the Fed talking about the financial markets. Obviously, every time the Chairman speaks, the markets listen.
But I am concerned that the Fed has tried to influence market levels.
That is not the Fed's job. I am very heartened by the fact that you agreed with me that it is not the Fed's job to judge what level the NASDAQ or New York Stock Exchange should be.
You obviously have had a very distinguished career, and I look forward to asking you some tough questions and I will listen attentively to your answers to my own, and my colleagues questions.
Thank you, Mr. Chairman