Slow-Walking Nominees Means Delay in Fighting Inflation

WASHINGTON, DC – Today, after Senate Banking Republicans blocked the committee from voting on whether to advance five Federal Reserve Board nominees and one to lead to the Federal Housing Finance Agency, U.S. Senator Jack Reed (D-RI), a senior member of the Banking Committee, issued the following statement:

“This partisan stall tactic makes it harder for an independent Fed to tackle inflation and protect working families.  Whatever short-term political advantage Republicans may gain here will come directly on the backs of hardworking Americans, small businesses, and taxpayers of all political stripes.  I urge my colleagues to put the economic health and well-being of the American people first.  Senators who claim that fighting inflation is a priority should do their job and vote so the Fed can do its job.  The Fed can act most effectively on inflation when it is fully staffed and operational.  Republicans are trying to gum up the works here and limit the personnel, options, and time the Fed has to strengthen America’s economic recovery.”