Source: United States Senator Kevin Cramer (R-ND)
BISMARCK – U.S. Senator Kevin Cramer (R-ND), member of the Senate Banking Committee, issued the following statement in response to President Joe Biden’s intention to renominate Federal Reserve Chairman Jerome Powell for a second term and Lael Brainard as Vice Chair.
“In light of an economy hamstrung by COVID-19, and now supply chain issues and soaring inflation thanks to the Biden Administration’s debilitating policies, the Federal Reserve needs consistency. Powell’s appointment is a sign of consistency, which is so important at a time like this. Stability and consistencyare in the best interests of the American economy and I look forward to supporting his confirmation.”
“Despite concerns about the positions Governor Brainard has taken while on the Board of Governors, I look forward to meeting with her and discussing the approach she would take as Vice Chair.”