Expresses confidence in their ability to keep the agency independent.
President Joe Biden previously nominated Jerome Powell and Lael Brainard to serve on the Federal Reserve Board, and on Friday he announced additional nominees Sarah Bloom Raskin, Lisa Cook, and Philip Jefferson to round out the seven person board. These nominations are arriving at a critical time in the current economy, and Secretary of the Treasury Janet Yellen expressed her full support.
“We continue to face new challenges as we confront the pandemic and its variants, but we have made remarkable strides to put our economy on strong footing,” said Secretary Yellen. “I am confident these nominees will build on that progress. I also know that these individuals will respect the tradition of an independent Fed, as they work to fight inflation, support a strong labor market and ensure our economic growth benefits all workers.”
As the Lord Leads, Pray with Us…
- For the Federal Reserve Board Nominees as they go through the hearing process.
- That Secretary Yellen would seek God’s guidance on the best way to support the U.S. economy.
- For the president and his advisors as they determine who to appoint to federal posts.
Sources: Treasury Department
