October 24, 2005

Reid Statement on Ben Bernanke's Nomination as Federal Reserve Chairman

Washington, DC – Today, Democratic Leader Harry Reid released the following statement on the nomination of Ben Bernanke as Chairman of the Federal Reserve Bank:

“The job of Federal Reserve Chairman is one of the most critical positions in our government, steering the nation’s economy and providing market stability. It is crucial that the Chairman of the Federal Reserve exercise independent judgment while focusing on monetary policy. I look forward to the confirmation hearings to learn more about Mr. Bernanke’s views on how the Federal Reserve should steer our economy free from political influence and interference.

“The new Federal Reserve Chairman will face many challenges. Middle class families are being squeezed between stagnating incomes and rising prices for health care, home heating, and education. In addition, the number of uninsured has skyrocketed, and job growth has remained disappointing. It will be important that Mr. Bernanke demonstrate that he is committed to guiding the economy to produce results for all Americans rather than promoting partisan policies that benefit special interests and an elite few.”

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