Political Quotes

“Mr. President, today the Senator from Ohio and I wish to speak about Scott Alvarez, general counsel of the Board of Governors of the Federal Reserve System. Mr. Alvarez is retiring after a 36-year career with the Board of Governors, including the last 12 as general counsel. He joined the board's legal division in 1981, immediately after graduating from Georgetown Law School, and worked as a staff attorney on bank regulatory issues for many years, until he was named general counsel in 2004. In that role, he served as a key adviser to Chairmen Greenspan and Bernanke and Chair Yellen. He was also general counsel of the Federal Open Market Committee, and he was the chief lawyer in carrying out some of the Fed's other roles, including overseeing the payments system and issuing currency. I have enjoyed working with Mr. Alvarez over the years and have appreciated the insights and feedback he has provided to me and the Banking Committee. On a personal note, his help was particularly valuable in 2006, when the Senate passed the Financial Services Regulatory Relief Act of 2006, which was then signed into law by President Bush. I want to thank Mr. Alvarez for his assistance on that bill and others and for his service to the Federal Reserve and to the country.”