October 09, 2013

Crapo on Yellen Nomination for Fed Chair

Washington, D.C. - Senate Banking Committee Ranking Member Mike Crapo (R-Idaho) issued the following statement regarding the expected nomination of Janet L. Yellen to serve as the next Chairman of the Board of Governors of the Federal Reserve System.  

"As is always the case, Ms. Yellen's nomination to serve as the next chairman of the Federal Reserve Board will be carefully reviewed and considered by the Banking Committee.  The next Fed Chair faces a unique set of challenges, including winding down unconventional monetary policy, implementing a long list of unfinished rules under Dodd-Frank without over-regulating the community banking sector, and effectively communicating future policies to the markets and the public. I continue to strongly disagree with the Fed's use of quantitative easing, and am eager to learn Ms. Yellen's vision for the direction of the Federal Reserve as we go through the nomination process.

He added, "Ben Bernanke has served as Fed Chairman through unprecedented economic conditions, and I greatly appreciate his many years of dedicated service."