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Chairman Hensarling’s Statement on Fed Chair Nominee

Washington, Nov 2 -

House Financial Services Committee Chairman Jeb Hensarling (R-TX), who attended today’s White House ceremony where President Trump announced his decision to nominate Jerome H. Powell for Chair of the Board of Governors of the Federal Reserve System, issued the following statement:

“Although I am not well acquainted with Mr. Powell and advocated on behalf of another candidate, I congratulate him on his nomination and look forward to working with him should he be confirmed by the Senate.  If confirmed, it is my hope that he will break from the past and lead the Federal Reserve to adopt a more transparent and more predictable monetary policy strategy and rationalize a regulatory agenda that has seen big banks become even bigger while community banks have become fewer.”