Merkley Statement on Jerome Powell Nomination

WASHINGTON, D.C. – Oregon’s Senator Jeff Merkley released the following statement after President Donald Trump nominated Jerome Powell to be the next Chair of the Federal Reserve:

“My thanks go out to Janet Yellen for her outstanding service as Chair. Her expertise and leadership will be difficult to replace.

“As we saw all too clearly during the financial crisis, the Fed has a crucial role to play in financial regulation—and things can go disastrously wrong when they shirk that responsibility. I look forward to fully reviewing Mr. Powell’s nomination, and will be paying particular attention to his approach to Wall Street reform. We need a Fed Chair who is willing to stand up to big banks and protect our economy from another financial disaster.”