Political Quotes

“I rise in support of the swift consideration of President Biden's five nominees to the Board of Governors of the Federal Reserve System. Over the last year, our economy has improved tremendously, thanks to President Biden's American Rescue Plan and the bipartisan infrastructure law, and we have been guided along the way by steady leadership at the Fed. We are seeing positive results. Last year, GDP grew by 5.7 percent, and we gained over 6.6 million jobs. In each month during the second half of last year, the family tax credit in the American Rescue Plan pulled approximately 3.5 million children out of poverty; unemployment claims are at a 50-year low; the unemployment rate is at 4 percent; and nominal wages are rising at the fastest pace in decades. We have also begun investing $1.2 trillion from the bipartisan infrastructure law that will help businesses and the economy in the decades ahead and will provide an extraordinary number of jobs. We are not yet out of the woods from the pandemic, and there are critical economic challenges we need to address, including inflation, the lack of affordable housing, the high cost of prescription drugs, the need for affordable childcare, and others. The Fed plays a pivotal role in making sure our economy grows on an even keel so that we can meet these challenges and remain the world's leader.…”