Senator Reverend Warnock Statement on Fed Reserve System Nominations

Washington, D.C. — Today, U.S. Senator Reverend Raphael Warnock (D-GA) released the statement below following President Biden’s announcement that he will nominate Jerome Powell for a second term as Chair of the Board of Governors of the Federal Reserve System, and Dr. Lael Brainard to serve as Vice Chair of the Board of Governors of the Federal Reserve System:

“I’m pleased Jerome Powell has been nominated to serve a second term at the helm of the Federal Reserve Board, and that Dr. Lael Brainard has been nominated to serve as the Board’s Vice Chair. Chair Powell has faithfully and competently helped lead America’s economy through the worst crisis of our lifetime, working tirelessly to keep it from collapsing. Additionally, Dr. Brainard has been a strong advocate in Washington for a more equitable financial regulatory system, and I know her decades of experience and deep knowledge of the issues facing small businesses and workers will continue to inform the Board’s policymaking.

“As a member of the Senate Banking Committee I’ve gotten to know both Chair Powell and Dr. Brainard, and I have confidence in their expertise and ability to help Georgians thrive economically in these respective roles. I look forward to supporting them both through the confirmation process, and continuing to collaborate with them to ensure our banking systems are working for Georgia’s families, businesses, and workers. And, that our economy is working for all of us.”