Hoeven: Senate Confirms Jerome Powell as Chairman of the Federal Reserve Board

WASHINGTON – Senator John Hoeven today issued the following statement after the Senate voted to confirm Jerome Powell as Chairman of the Board of Governors for the Federal Reserve. Powell was first appointed to the board in 2012, and his current term as chair will last for four years. Powell has nearly three decades of experience in the financial sector and served in the administration of President George H.W. Bush as an assistant secretary and undersecretary of the Treasury.

“In his new role, Chairman Powell will be tasked with leading the board as they work to both maintain a stable financial market and ensure strong economic growth. His input will be valuable as we continue our efforts to roll back burdensome regulations, and he has already provided insight into federal rules that impose unnecessary costs for financial institutions, their customers and businesses looking for capital to invest in their operations. I look forward to working with him to provide relief from these and other rules to keep our economy growing and create good jobs.”