June 12, 2014


WASHINGTON - Senate Banking Committee Chairman Tim Johnson (D-SD) released the following statement on the Senate confirmation of Dr. Stanley Fischer, Vice Chairman of the Federal Reserve; and the Honorable Jerome H. Powell and the Honorable Lael Brainard, Members of the Federal Reserve.

“I would like to congratulate Stan Fischer, Jerome Powell, and Lael Brainard on being confirmed. Each of these individuals has a unique set of skills and experience to provide the Board of Governors a diverse perspective on how to continue to help the economy recover, and promote a more stable financial system. I would also like to thank outgoing Governors Sarah Bloom Raskin and Elizabeth Duke for their hard work, dedication and valued service—I wish them the best in their next endeavors.

“The Federal Reserve Board has many important tasks at hand including the continued implementation of Wall Street Reform, establishing policies to improve financial stability, reduce systemic risk and end “too-big-to-fail”, and I look forward to working with the newly confirmed Governors.”