Hearings to examine the nominations of Benjamin Hobbs, of Ohio, and Ronald Kurtz, of Georgia, both to be an Assistant Secretary of Housing and Urban Development, and Chris Pilkerton, of Maryland, to be Assistant Secretary for Investment Security, and Jonathan Burke, of Georgia, to be Assistant Secretary for Terrorist Financing, both of the Department of the Treasury, and Stephen Miran, of New York, to be a Member of the Board of Governors of the Federal Reserve System.
Banking, Housing, and Urban Affairs Committee
2025-09-04
Source: Congress.gov
Participants
Transcript
Let's get started here this morning. Today we once again convene to consider a state, a slate of well-qualified nominees put forward by President Trump. Each nominee here shares a commitment to ensuring the American economy remains strong, competitive, and secure, from housing affordability to protecting our financial systems from bad actors to maintaining confidence in the Federal Reserve. The work of these nominees directly impacts the lives of everyday Americans and the prosperity of states like my home state, South Carolina. More than 450,000 small businesses operating in South Carolina alone, decisions made in Washington have a direct impact on local jobs and economic growth. The Senate Banking Committee must ensure that those entrusted with these roles are capable, accountable, and focused on advancing opportunity for all Americans. The nominees before us will play a key role in addressing these economic challenges and ensuring America's workforce remains competitive. Let me briefly highlight the impressive credentials of each nominee before us today. Mr. Ben Hopps. nominated to serve as HUD's Assistant Secretary for Public and Indian Housing. He's someone I know very well. As opposed to reading about him, I'll just simply say that from Opportunity Zones to his work on my staff, he has proven to be an excellent, excellent person committed to the success and the prosperity of everyday Americans. The one thing we need more of are people who are sacrificial in providing service to our country and varied roles throughout.
And it has been my honor and privilege to watch Ben succeed and now get paid a lot more money than I will ever get paid. Thank you for being here. Next, we'll go to Mr. Ronnie Kurtz. I know that you're not going to make that much money doing your job anyway, so you get the point. Mr. Ronnie Kurtz, nominated to be HUD's Assistant Secretary for Community Planning and Development, bringing practical, on-the-ground experience from his leadership in the state of Georgia. He knows firsthand the responsibilities of this position, from code enforcement to zoning, building inspections, and public hearings. That kind of hands-on knowledge is critical at HUD, where decisions must balance local realities with national priorities. Together, their experience will help guide federal programs to better serve communities, and I look forward to their leadership in carrying out our Road to Housing Act when it becomes law. Dr. Steven Myron, nominated to serve as a governor of the Federal Reserve Board, is well known on this committee. As chair of the Council of Economic Advisers, he has already helped guide the Trump administration toward policies that have boosted domestic production, reduced trade deficits, and increased revenues for the Treasury Department. His expertise will strengthen the Fed at this critical moment. Mr. Christopher Pilkerton, nominated to be the Treasury's Assistant Secretary for Investment Security and will lead CFIUS and the department's outbound investment screening efforts. He brings the legal and financial experience needed to keep America secure from hostile foreign influence and to ensure U.S. investment does not aid our adversaries in key sectors. Mr. Jonathan Burke, nominated to be Treasury's Assistant Secretary for Terrorist Financing, has a proven track record, both in government and in the private sector.
From his early days at Treasury to his work implementing rigorous anti-financial crimes controls in the private sector, Mr. Burke understands the stakes of his mission, protecting the American economy from those who would do it harm. Each of these nominees represent President Trump's commitment to unleashing the golden age of American prosperity. an age where families can access safe housing, where small businesses in South Carolina and across the nation can thrive, and where the United States can stop those who would do financial harm and stay ahead of those who want to undermine our economic strength. Thank you, member. Thank you, Mr. Chairman. So, Mr. Chairman, I believe we're holding the wrong hearing today. President Trump has conducted a months-long campaign to seize control of the Federal Reserve. He's tried to intimidate and threaten to fire Chair Powell. And when that didn't work, he illegally attempted to fire Federal Reserve Board Governor Lisa Cook. so that he could seize control of the Fed. Now, why does President Trump want to control the Fed? Well, because the President promised on day one, those were his words, on day one to cut costs for American families. And we are now on day 227, and costs are not down. Donald Trump has failed to deliver on his promises. The cost of groceries, up. Utility bills, up. Housing, up. Health care, up. Backpacks, back-to-school shoes, and baby strollers, up, up, up. Instead of taking responsibility for his failing economic agenda, instead of changing his tariff policies, instead of reversing his disastrous energy policies, and instead of restoring health care coverage that he helped rip away from 15 million Americans, Trump wants to make the Federal Reserve his scapegoat.
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