Rep. Beyer hails Biden appointments to Federal Reserve board

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Yesterday, Congressman Don Beyer (D-VA), Chairman of the Joint Economic Committee (JEC) of the United States Congress, issued the following statement after President Joe Biden announced new appointments to the Federal Reserve Board of Governors .

“I applaud President Biden’s appointments to the Federal Reserve Board and encourage their early confirmation. The depth of experience and diversity of perspectives that Sarah Bloom Raskin, Lisa Cook and Philip Jefferson would bring to the leadership of the Federal Reserve System are essential to ensuring a broadly shared recovery and promoting sustained economic growth.

“These appointments demonstrate a strong administration commitment to actively pursue the three prongs of the Fed’s mission – full employment, price stability and healthy financial markets – which recognizes the macroeconomic impact of structural racism and the threat posed by the climate change to financial stability.

“As Vice President for Oversight, Professor Bloom Raskin would bring not only deep experience in financial regulation, but also broad leadership in consumer protection and the systemic risks posed by climate change. Professors Cook and Jefferson are leading academic researchers who combine a deep understanding of the true roots of economic growth with a demonstrated commitment to government service and a heritage of fostering inclusive institutions within the economics profession.

“Together with the nominees, President Powell, and Governor Brainard, their confirmations—along with the strength of their diverse personal, professional, and educational backgrounds—would be a historic contribution to the collective expertise of the Federal Reserve Board.”



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