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DODD STATEMENT ON BERNANKE

August 24, 2009

WASHINGTON - Senate Banking Committee Chairman Chris Dodd (D-CT) issued the following statement on the news that Ben Bernanke will be reappointed as Chairman of the Federal Reserve.
 
"While I have had serious differences with the Federal Reserve over the past few years, I think reappointing Chairman Bernanke is probably the right choice,"  Dodd said.  "Chairman Bernanke was too slow to act during the early stages of the foreclosure crisis, but he ultimately demonstrated effective leadership and his reappointment sends the right signal to the markets."
 
"There will be a thorough and comprehensive confirmation hearing.  I still have serious concerns about the Federal Reserve’s failure to protect consumers and I strongly believe these responsibilities should go to an independent consumer financial protection agency.  I expect many serious questions will be raised about the role of the Federal Reserve moving forward and what authorities it should and should not have."
 
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