Hickory Sun

North Carolina State Representative Patrick McHenry criticized the Biden Administration's foreign policy as "contradictory" and "weakening America's global standing." He stated that Republicans are urging Secretary Yellen to take "concrete steps to right the ship" during the Financial Committee hearing. McHenry made his statement in a July 9 post on X.

"The Biden Administration's nonsensical and contradictory approach to foreign policy is weakening America's global standing," said Patrick Timothy Mchenry, U.S. Representative for North Carolina's 10th congressional district (R). "At today's @FinancialCmte hearing, Republicans are holding @SecYellen accountable and urging her to take concrete steps to right the ship."

According to a press release by the Financial Services Committee, the House Financial Services Committee, chaired by McHenry, is holding a hearing with Treasury Secretary Janet Yellen to discuss the international financial system. Republicans are criticizing the Biden Administration's inconsistent foreign policy for undermining America's global leadership.

Rep. McHenry's x post | x

"Unfortunately, the Biden Administration has undermined this bipartisan progress at every turn with reckless executive actions. But government debt isn’t just a challenge for America. Total public debt globally is at record levels. Much of it is held by emerging market economies with poor creditworthiness at depressed interest rates that do not accurately reflect the default risk," said McHenry.

The House Financial Services Committee oversees economic issues, including banking, housing, insurance, and securities. It also manages monetary policy, international finance, and efforts to combat terrorist financing. The Committee monitors the Federal Reserve, the Treasury, currency production, and capital markets. Its oversight extends to several key agencies like the Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), Department of Housing and Urban Development (HUD), and the Export-Import Bank.

McHenry currently represents North Carolina's 10th Congressional District, encompassing parts of nine counties in the state. Serving his tenth term, he holds the position of Chairman of the House Financial Services Committee in the 118th Congress, advocating for solutions to enhance banking services and credit accessibility.