John Thune: “Later today, the Senate will finish considering the nomination of Kevin Warsh to be the 17th Chairman of the Federal…”

“Later today, the Senate will finish considering the nomination of Kevin Warsh to be the 17th Chairman of the Federal Reserve. Leading the Federal Reserve System is an enormous task. The decisions the Fed makes affect Wall Street and Main Street and kitchen tables all across the country. So it is critical that we have people who understand not only the macro--the global economy and the markets--but who appreciate the microeconomy, and that is the hard-working Americans, their jobs, and their livelihoods. Kevin Warsh is just such a person. He credits his knowledge of the real economy to growing up in Upstate New York where his dad ran a children's clothing store and manufacturing company. From Shaker High School, he went on to Stanford University and then Harvard Law School. He then started a career on Wall Street, but he shifted to public service and joined the Bush administration's economic policy team in 2002. Four years later, President Bush nominated him to the Federal Reserve Board of Governors. At age 35, Kevin Warsh was unanimously--unanimously--confirmed here in the Senate and became the youngest Governor in the history of the Federal Reserve. Being the youngest person to take a seat in the Federal Reserve's boardroom is impressive enough, but Kevin Warsh didn't just take his seat--he was a key player during the time he was on the Board. Kevin Warsh seems to have just the profile of a Federal Reserve Chairman; yet Democrats oppose his nomination.”