Quote from Joint Center President Included in White House Press Release About POTUS’ Fed Nominations

The White House issued a press release “WHAT THEY ARE SAYING: Bipartisan Leaders Applaud President Biden’s Nominations for Federal Reserve Board of Governors” that included a quote from Joint Center President Spencer Overton.

Spencer was quoted as saying: “Thanks to President Biden’s nominations today, the Fed will be stronger and better equipped to curb inflation and maximize employment. The expertise and experience of these exceptional economists will be invaluable to the Fed in ensuring all Americans are considered when determining monetary policy. Dr. Cook’s groundbreaking macroeconomic research, Dr. Jefferson’s rigorous research on monetary policy’s impact on the labor market and inequality, and Dr. Kugler’s extensive work in the Obama Administration on government benefits to serve underserved communities are all essential to our economic recovery. These experiences deepen the Fed’s ability to consider the impact of its decisions on communities that are more adversely affected by inflation and often experience higher unemployment rates.”

“While there is more work to be done in diversifying economic appointments, President Biden’s nominations today represent a historic step in maximizing economic growth by building an economy that works for all Americans. We are appreciative of President Biden, Senate Majority Leader Charles Schumer (D-NY), and Senate Banking Committee Chair Sherrod Brown (D-OH) for their leadership in the nominations of these outstanding candidates to serve on the Federal Reserve Board.”

Click here to read the full Joint Center statement. Click here to read the full White House press release.