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BPC Congratulates Jay Powell on Confirmation as Next Federal Reserve Chairman

Wednesday, January 24, 2018

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Washington, D.C.– The following is a statement from Bipartisan Policy Center President Jason Grumet:

“On behalf of the Bipartisan Policy Center family, I commend the United States Senate for its overwhelming majority, bipartisan vote to confirm Jerome “Jay” Powell as the chairman of the Federal Reserve. Chairman Powell is the right person at the right time to guide our nation’s monetary policy and ensure the soundness of our financial institutions.

Chairman Powell is the right person at the right time to guide our nation’s monetary policy and ensure the soundness of our financial institutions.

“In a speech last year, Jay noted, ‘In my experience, the best outcomes are reached when opposing viewpoints are clearly and strongly presented before decisions are made.’ We saw this approach many times during Jay’s two years as a visiting scholar at the Bipartisan Policy Center. On a wide variety of initiatives, Jay demonstrated unique talent for encouraging diverse viewpoints and finding realistic common ground to build a pragmatic consensus.

“Jay’s ability to understand and present complex data, remain cool under pressure, and set aside partisanship will serve him well. Chairman Powell and his Fed colleagues will no doubt be tested in the months and years ahead. However, we are confident Jay has the right demeanor, intellect and approach to seize opportunities and effectively weather any crisis.”

KEYWORDS: FEDERAL RESERVE BOARD, JASON GRUMET, JEROME POWELL