Yesterday, Federal Reserve Vice Chairman of Supervision Randal Quarles was confirmed as a member of the Board of Governors of the Federal Reserve System, to serve a full 14-year term. Congressman Blaine Luetkemeyer (MO-03), Chairman of the House Subcommittee on Financial Institutions and Consumer Credit, issued the following statement following Vice Chair Quarles’ confirmation:

“It is critical to our economy to have a Federal Reserve Board of Governors that balances the vast responsibility of supervision with the financial needs of American families and businesses. I am confident in Vice Chairman Quarles’s ability to foster an economy that is both safe and advances the cause of economic freedom and prosperity for all Americans,” said Congressman Luetkemeyer. “I congratulate the Vice Chairman on his confirmation and look forward to continuing to work on the important issues he will confront during his tenure.”

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