The U.S. House Financial Services Committee published Chairman French Hill’s prepared remarks for a hearing with Treasury Secretary Scott Bessent, in his capacity as Chair of the Financial Stability Oversight Council (FSOC), to review FSOC’s 2025 Annual Report. Hill argued that economic growth is essential to financial stability and called for a regulatory framework that fosters growth while addressing risks, alongside a reaffirmation of FSOC’s mission to identify and mitigate financial risks. In outlining Committee Republicans’ priorities, Hill pointed to efforts under the Trump Administration to roll back regulations viewed as overly burdensome, and cited recent economic performance relative to forecasts, including inflation nearly 1 percentage point lower than projected, unemployment not exceeding 4.5%, no recession, GDP on track for three consecutive quarters above 3% growth, and the budget deficit on track to fall to 5.4% of GDP. He also highlighted legislative efforts including the Main Street Capital Access Act, described as a community banking package intended to revitalize local bank formation and right-size requirements for smaller institutions through more tailored supervision, and the bipartisan Housing for the 21st Century Act aimed at reducing burdens affecting home and apartment construction to expand housing supply.

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