Today, Congressman Don Beyer (D-VA), Chairman of the U.S. Congress Joint Economic Committee (JEC), released the following statement on President Joe Biden’s nominations to the Federal Reserve:
“Over the last 20 months, the United States has weathered a global pandemic that triggered the worst recession since the Great Depression, causing widespread economic hardship and threatening the economic security of families across the country.
“Under Chair Powell and Governor Brainard, the Fed’s decisive action was critical to limiting the economic fallout and jumpstarting the U.S. economic recovery. I applaud President Biden’s announcement to nominate Chair Powell for a second term and to nominate Governor Brainard to serve as the Vice Chair. Their unwavering commitment to ensuring the economic recovery is strong, stable and broadly shared has put us on a path to building back better. I have every confidence in their leadership to capably maintain price stability, steward the U.S. economy to full employment and address the financial risks of the growing threat of climate change.”