Today, in response to President Trump’s decision not to renominate Janet Yellen as Chair of the Federal Reserve Board of Governors, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement:
“Janet Yellen, who is the first woman to lead the Board of Governors of the Federal Reserve System, has done a masterful job as steward of the U.S. economy. She has demonstrated steady and strong leadership, and through bold and independent Federal Reserve policy, she has made critical contributions to the recovery and health of our economy. Under Chair Yellen’s leadership, the Federal Reserve has played a key role implementing many critical reforms required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, making our financial system much safer and stronger.
“Despite her impeccable credentials, accomplishments and outstanding service, Donald Trump has diverged from the common practice of reappointing Federal Reserve Board Chairs who are eligible for another term, and senselessly pushed Chair Yellen out of her historic position of leadership at the Fed.”