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Senate Banking Cmte Chair, Ranking Member Issue Powell Support Statements

US

Both the chair and the ranking member of the Senate Banking Committee have offered their support to the continued chairmanship of Jerome Powell at the Federal Reserve following the White House's announcement earlier today.

  • Committee Chair Sherrod Brown (D-OH) stated that Powell"has led our economy through a historic pandemic, and under his and President Biden's leadership, unemployment has fallen and workers are seeing increased bargaining power." Says he is looking "forward to working with Powell to stand up to Wall Street and stand up for workers, so that they share in the prosperity they create."
  • Rankiing member Pat Toomey (R-PA) stated that"While I have strongly disagreed with Chairman Powell's decision to continue the Fed's emergency accommodative monetary policy—long after the economic emergency had passed—Chairman Powell's recent comments give me confidence that he recognizes the risks of higher and more persistent inflation and is willing to act accordingly to control it."
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