Pelosi Statement on President Biden's Nomination of Federal Reserve Chairman Jerome Powell

Statement

Speaker Nancy Pelosi issued this statement after President Biden nominated Federal Reserve Chairman Jerome Powell for a second term:

"As House Speaker, I congratulate Federal Reserve Chairman Powell on his nomination to lead the world's most consequential central bank for a second term. The House looks forward to continuing to work closely with him to build on Democrats' progress to create good-paying jobs, lower costs for families, fight inflation and Build Back Better For The People.

"Chairman Powell has brought steady leadership and sound judgment to the Federal Reserve's mission of promoting maximum employment, stable prices and a sound financial system, especially during a time of unprecedented crisis. His proven track record and goal of achieving "broad-based and inclusive' employment while lowering families' costs will continue serve the country well, as America, under the leadership of President Biden, rebounds and Builds Back Better from crisis.

"As Vice Chair, Governor Lael Brainard will bring exceptional credentials, extensive expertise on both domestic and international economic policy, outstanding work to protect financial system stability and deep understanding of the economic challenges that families face, to her new position.

"Democrats are committed to Building Back Better For The People -- creating jobs, cutting taxes, lowering costs and making the wealthiest few and big corporations pay their fair share."

Source