News Release
Spratt Statement on the Reappointment of Ben Bernanke as Fed Chairman
FOR IMMEDIATE RELEASE
August 25, 2009
WASHINGTON – House Budget Committee Chairman John Spratt made the following statement on the President’s reappointment of Ben S. Bernanke as Chairman of the Board of Governors of the Federal Reserve System.
“Ben Bernanke has earned the honor of being reappointed. He deserves it for steering the Fed and the economy through the most perilous period since the 1930s.
“Ben Bernanke enjoyed the acclaim of academics when he was appointed, and in time, won the confidence of markets around the world.
“Looking back, historians will find plenty to fault with the initial decisions Ben Bernanke and Hank Paulson made, but they will have to agree that having Bernanke and Paulson in power may have spared the economy a meltdown.
“There remains much to be done finishing the job that Bernanke has begun at the Fed, and this is no time for a break in continuity. There is no better student of the Depression, and Bernanke knows how to apply the lessons learned. The President made the right choice, and I commend him for tapping Ben Bernanke to serve a second term as chairman of the Fed.”
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