Political Quotes

“Mr. President, today, we consider the nomination of Federal Reserve Board Governor Jerome Powell to be Chair of the Board of Governors of the Federal Reserve System, one of the most important jobs in our government. The Federal Reserve System is the central bank of the United States. It is responsible for monetary policy, ensuring the stability of the financial system and the safety and soundness of our banks. The Federal Reserve in Washington, DC, also has 12 regions or districts around the country. One of them is located in my hometown of Cleveland. Governor Powell has been a member of the Federal Reserve Board since 2012. He supported important principles of monetary policy and critical elements of financial regulation. His track record over the past 6 years shows that he is a thoughtful policymaker. As the Chair of the Board of Governors, he would lead the Federal Open Market Committee within the Federal Reserve. Governor Powell supports the statutory dual monetary policy goals of maximum employment and price stability--the cornerstones of a well-functioning economy. Senator Crapo, who is joining me today, is chairman of the committee. We listened to testimony today about the nomination of another Fed Governor--not the highest position, as the Chairman of the Federal Reserve, but a Federal Reserve Governor--Mr. Goodfriend.…”