U. S. Congressman Pat Tiberi (R-OH), chairman of the Joint Economic Committee, today issued the following statement regarding the president’s nomination of Jerome Powell to be the next chair of the Federal Reserve:

“First, I would like to express my appreciation for Janet Yellen’s dedicated service to the nation as Fed chair. The Federal Reserve is one of the most important institutions in our country, if not the world, and it places enormous responsibility on its leadership. The Joint Economic Committee sincerely thanks Janet Yellen for her work as chair.

“The president has chosen Jerome Powell to head the Fed and I fully support that choice. I anticipate that Jerome Powell’s experience at the U.S. Treasury and on the Federal Reserve Board will serve him well. His concern over low labor force participation, new business formation, and productivity since the last recession is well placed and I expect will guide his policies.

 “I believe Jerome Powell will make a fine Fed chairman and hope for a speedy confirmation of his nomination to this critical position.”

For a brief introduction of Jerome Powell, click here.

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