Political Quotes

“what is reflected on the Senate Web site is the action the Senate is about to take at noon today. There has been at least one vacancy--and sometimes two--on the Federal Reserve Board since 2006. That is 6 years ago. That is one whole Senate term. The Federal Reserve Board has seven Governors nominated by the President and confirmed by the Senate. So during that whole 6 year-period, it has had one or two of those seven positions vacant. And this has been during a time--since 2008--of the greatest economic crisis we have had since the Great Depression. The President tried once to nominate someone to that position who wasn't accepted by the Senate. So in January the President took the unusual step of nominating a well-qualified Republican, Jay Powell, as well as a well-qualified Democrat. There is a good deal of unease in the Republican caucus--as I am sure was reflected in some of the comments on the floor--about the response the Federal Reserve Board has taken to the economic crisis since 2008. Senators on this side of the aisle who have those concerns have a perfect right to filibuster, to object, and perhaps to kill these two nominations.…”