Political Quotes

“Mr. President, I rise in support of the nomination of the Honorable Randal Quarles to be a member of the Board of Governors of the Federal Reserve System. Mr. Quarles has extensive government and private-sector experience dealing with both domestic and international financial markets. He is no stranger to public service in his having previously served in multiple top posts in the Treasury Department. Mr. Quarles has also been nominated to serve as the Vice Chairman for Supervision, a role that has never been officially filled. Instead, former Federal Governor Dan Tarullo has acted as the de facto Vice Chairman for Supervision in various ways, including by chairing the Federal Reserve Board's Committee on Supervision and Regulation, overseeing the Large Institution Supervision Coordinating Committee, and representing the Fed at the Financial Stability Board and in Basel, among other functions. In February, Chair Yellen committed in a hearing that she expected President Trump's nominee for Vice Chairman for Supervision to have the same responsibilities that Governor Tarullo had, including heading the Federal Reserve's Committee on Supervision and Regulation and representing the Fed at the Financial Stability Board and in Basel. I expect Mr. Quarles to perform those same duties in the interim, and I look forward to confirming him to that position soon. Mr.…”