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Cmte Financial Services (R)
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McHenry Statement on Biden’s Nominees to Federal Reserve Board

Washington, May 12 -

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement in response to President Biden’s nomination of Philip Jefferson as the next Vice Chair of the Board of Governors of the Federal Reserve System and Adriana Kugler as his replacement on the Board.

“These nominees are seasoned economists with the capacity to contribute meaningfully to the work of the Federal Reserve Board,” said Chairman McHenry. “Should they be confirmed to these roles, I urge them to maintain strict impartiality and remain laser focused on reining in inflation. Under no circumstances should partisan politics influence the Federal Reserve Board’s decision making. As with all of President Biden’s appointees to the Federal Reserve, Republicans on the House Financial Services Committee will hold Mr. Jefferson, Ms. Cook, and Ms. Kugler to account to ensure that the Fed is focused squarely on its statutory mandate, rather than engaging in fiscal or social policymaking, which is the purview of Congress.”

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