Patrick McHenryChairman

Washington, November 22, 2021 -

Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), released the following statements regarding President Biden announcing his renomination of Jerome Powell to serve as Chair of the Federal Reserve Board of Governors:

“I’m glad to see President Biden recognize what I’ve said all along: Chair Powell earned and deserves another term leading the Federal Reserve Board,” said Republican Leader McHenry. “Throughout the pandemic and ongoing recovery, Jay has proven to be a steady hand at the helm of the Fed. Under his steadfast leadership, the Fed took decisive and unprecedented action to prevent the COVID-related economic downturn from becoming an even more devastating financial crisis. But there is more work to be done. We must unwind these firefighting measures and turn our focus to rebuilding the economy which—thanks to pro-growth Republican policies—was the greatest in our lifetimes prior to the pandemic. Jay is the right man for this job. His continued fierce defense of the Fed’s independence will also be critical as progressives attempt to hijack our central bank to advance their harmful far-left agenda. I commend President Biden for this decision and look forward to continuing to work with Chair Powell.”

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