Foster Statement on New Leadership at the Federal Reserve

Washington, DC—Today, Congressman Bill Foster (D-IL), the top Democrat on the House Financial Institutions Subcommittee, issued the following statement regarding Kevin Warsh taking over as Chair of the Federal Reserve:

“Today, Kevin Warsh takes over for Jerome Powell as Chair of the Federal Reserve. He has big shoes to fill. 

“As Chair, Jerome Powell provided a steady hand that was unaffected by political pressures from the highest office in our country. He guided the historic soft landing of our economy after the COVID-19 pandemic and has overseen our monetary policy during major economic turmoil. 

“Having served on the Federal Reserve Board of Governors during the 2008 financial crisis, Warsh has experience navigating economic turmoil and should understand the importance of effective regulation. I look forward to working with Chair Warsh to maintain a Federal Reserve free from political influence.”

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