“Under Chair Powell and Governor Brainard, the Fed’s decisive action was critical to limiting the economic fallout and jumpstarting the U.S. economic recovery. I applaud President Biden’s announcement to nominate Chair Powell for a second term and to nominate Governor Brainard to serve as the Vice Chair. Their unwavering commitment to ensuring the economic recovery is strong, stable and broadly shared has put us on a path to building back better. I have every confidence in their leadership to capably maintain price stability, steward the U.S. economy to full employment and address the financial risks of the growing threat of climate change.”
"Today’s passage of the Build Back Better Act in the House is a landmark moment for this country. These fully paid-for investments will deliver economy-wide gains for decades to come, advancing economic growth that is stronger, more stable and more broadly shared. Together, the Build Back Better Act and the bipartisan Infrastructure Investment and Jobs Act are pro-growth investments that will materially improve the economic well-being of communities across the country by lowering household costs for workers and families, creating millions of new jobs and addressing the existential threat of climate change."
Today, U.S. Representative Marie Newman (D-IL-03) and Joint Economic Committee Chairman (JEC) Representative Don Beyer (D-VA-08) released this year’s Third Quarter Worker’s Economy Report, a shortcut guide designed to provide constituents with an understanding of America’s post-pandemic economy. As part of a quarterly series launched earlier this year, today’s new Worker’s Economy report details the economic growth of the past three months that has been propelled by President Biden’s American Rescue Plan and the White House’s national vaccine campaign. Additionally, the report examines how supply chain bottlenecks and an increase in COVID cases among the unvaccinated has affected these economic indicators.
Nov 17 2021
JEC Held Hearing to Explore Digital Assets, Role of Government
Current moment represents “opportunity to take action before a potential crisis hits the broader economy”
Today, the Joint Economic Committee (JEC) held a hearing entitled “Demystifying Crypto: Digital Assets and the Role of Government” to explore the regulatory, policy and economic concerns posed by digital assets for the United States and the global marketplace. Chair Don Beyer (D-VA) presided.
The U.S. job market snapped back in October, with nonfarm payrolls rising more than expected while the unemployment rate fell to 4.6%, the Labor Department reported Friday.
According to a new report from Moody’s last week, combined with the Infrastructure Investment and Jobs Act, we will create 1.5 million jobs per year on average and increase GDP by nearly $3 trillion over the next ten years, boosting labor force participation and propelling us toward full employment. Moody’s also projects that total GDP will increase by nearly $3 trillion relative to the baseline over the next decade. The report confirms what the President has said for weeks: that these sorts of investments in making our economy more productive will keep prices stable and decrease inflationary pressure.
Nov 05 2021
JEC Chairman Beyer on October Jobs Report
Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 531,000 in October and the unemployment rate declined to 4.6%, a new pandemic-era low. The unemployment rate was 7.9% for Black workers, 5.9% for Hispanic workers and 4.2% for Asian workers.
Nov 05 2021
JEC Chairman Beyer on October Jobs Report
Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Labor Statistics (BLS) reported that nonfarm payroll employment increased by 531,000 in October and the unemployment rate declined to 4.6%, a new pandemic-era low. The unemployment rate was 7.9% for Black workers, 5.9% for Hispanic workers and 4.2% for Asian workers.
Nov 04 2021
JEC, CHC, House Small Business Committee Release Report on Hispanic Businesses, Entrepreneurship
Hispanic-owned businesses drive economic growth, contribute more than $800 billion annually to the U.S. economy
Today, the U.S. Congress Joint Economic Committee (JEC), led by Congressman Don Beyer (D-VA); the Congressional Hispanic Caucus (CHC), led by Congressman Raul Ruiz, M.D. (D-CA); and the House Small Business Committee, led by Congresswoman Nydia Velázquez (D-NY) released a new report examining the state of Hispanic entrepreneurship and businesses ownership in the United States.
Oct 28 2021
Chairman Beyer Statement on Q3 GDP
Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement after the Bureau of Economic Analysis (BEA) reported its initial estimate of third quarter gross domestic product (GDP) growth of 2.0% on an annualized basis.?
