WASHINGTON, D.C. –– U.S. Senator Sherrod Brown (D-OH) released the following statement on the confirmation of Janet Yellen as the first Chairwoman of the Board of Governors of the Federal Reserve System:
“This is a historic step for our country. Janet Yellen’s confirmation as the next Chair of the Federal Reserve System is great news for all us who care about reducing unemployment, growing the middle class, and working to prevent future bailouts,” Brown said. “Her more than a decade at the Federal Reserve has shown she is a steady-handed, consensus builder who recognizes that maximizing employment is good for American workers and our continued economic recovery.”
Brown, who chairs the Senate Banking Subcommittee on Financial Institutions and Consumer Protections, spearheaded a letter signed by more than one-third of Democratic senators urging President Obama to nominate Yellen to lead the Federal Reserve System. In November, Brown met with Yellen to discuss key economic concerns and called for prompt confirmation as Chairwoman following their meeting.