Political Quotes

“Mr. President, I, too, rise in support of the nomination of the Honorable Jerome, or ``Jay,'' Powell to be the Chairman of the Board of Governors of the Federal Reserve System. I appreciate this opportunity to immediately follow my colleague Senator Brown, as he and I serve together in leading the Banking Committee on critical issues like this. Senator Brown has very well described a number of the critical aspects of what this nomination means to America. I don't think there is any overstating the importance of this nomination--one of the very few most important nominations any President gets to make. The Federal Reserve Chairman plays a critical role in shaping the U.S. and global economic landscape as well as the regulations affecting financial institutions and markets. If confirmed to this position, Governor Powell would be central to ensuring a safe and sound financial system while also supporting a vibrant, growing economy. He will play a key role in right-sizing Federal regulations and alleviating unnecessary burdens, a stated goal of the Federal Reserve. He would also Chair the Federal Open Market Committee, the body charged with making key decisions for the Nation's monetary policy. Governor Powell has a unique background, which will help him lead the Federal Reserve. He has demonstrated his understanding of the markets and regulations during his tenure over the past 5 years at the Federal Reserve.…”