Political Quotes

“I rise to speak in support of the nomination of the Honorable Randal Quarles to be a member of the Board of Governors of the Federal Reserve System. The Senate has already confirmed Mr. Quarles--this Congress--to serve as a member of the Federal Reserve with a bipartisan vote of 65 to 32, but that term expired on February 1, 2018, and he has been serving as a member of the Board in a holdover capacity since. Confirming Mr. Quarles to a new 14-year term will provide needed stability at the Board and allow for the prompt consideration of other Board nominees. Mr. Quarles has a wealth of government and private-sector experience dealing with both domestic and international financial markets. In addition to his current service on the Board, his government experience includes serving in multiple top posts in the Treasury Department. Currently, only three of the seven available Board seats are filled, and several other nominees to the Board await confirmation. I have appreciated the important work carried out by Mr. Quarles at the Board thus far, including his role in developing regulatory and supervisory policy for the Federal Reserve System. Some are arguing today he is responsible for the housing crisis. He wasn't on the Federal Reserve Board when the housing crisis occurred. Some have argued that he is trying to weaken stress tests.…”