Representative Ann Wagner (R-MO) today issued the following statement after the Senate confirmed Dr. Janet Yellen to be the next chair of the Federal Reserve.
“I congratulate Dr. Yellen on her Senate confirmation to become the next chair of the Federal Reserve, a role she enters at a critical time in the Fed’s 100-year history,” said Ann Wagner. “With our economy stuck in the slowest recovery in modern times, the Fed has taken unprecedented actions over the last several years by keeping interest rates at ultra-low levels and purchasing trillions of dollars of assets. But instead of returning our economy to its normal growth rate, these actions have only increased the risk of inflation down the road and made the Fed’s exit strategy all the more difficult.”
“The House Financial Services Committee, on which I serve, will continue its examination of the Fed’s many mandates and its role in our economy. Monetary policy should be transparent and based on a set of rules with a goal of price stability and economic growth. Given that Dr. Yellen has said positive things about rules-based monetary policy in the past, I am eager to work with her and my colleagues in the House to create more transparent and predictable policy guidelines for the Federal Reserve.”