Hoyer Statement on the Appointment of Jerome H. Powell to Serve as Chair of the Federal Reserve

WASHINGTON, DC – House Democratic Whip Steny H. Hoyer (MD) released the following statement today after President Trump announced his intent to nominate Jerome H. Powell to serve as Chair of the Federal Reserve: 

“I’m encouraged that President Trump has appointed Jerome H. Powell to chair the Federal Reserve. Powell has proven to be a pragmatic centrist as a member of the Federal Reserve’s Board of Governors, and he was an effective regulator while serving in the Treasury Department in the 1990s. I look forward to hearing how he would oversee monetary policy during his term when his confirmation hearings take place in the Senate.
 
“I thank Janet Yellen for her service as Chair over the last four years, during which she steered the economy out of the recession in a steady, expert way. I am grateful to her for sharing her knowledge of the state of the American and international economy with me and with Members of Congress. As the President has pointed out, she did an outstanding job as Chair, and he would have certainly done the economy and the American people a service by reappointing her to a second term.”