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For Immediate Release
April 16, 2018
ABA Media Contact: Ian McKendry
(202) 663-5473
Follow us on Twitter: @ABABankers

ABA Statement on Today’s Fed Board Nominations

By Rob Nichols, ABA president and CEO

​“We congratulate Michelle Bowman and Richard Clarida on their nominations to serve on the Federal Reserve Board of Governors. 
“It’s essential to have someone on the Federal Reserve Board with community banking experience, and President Trump made an excellent choice in Miki Bowman.  Her background both as a fifth generation banker and a state regulator in Kansas will provide the Federal Reserve with valuable perspective as the Board sets monetary and regulatory policy. 
“Rich Clarida is an ideal choice to serve as vice chairman. He is a widely respected economist with a keen understanding of monetary policy and financial markets. As a former colleague of mine in the Treasury Department, I also know Rich is a dedicated public servant who will work well with his Board colleagues.
“We urge the Senate to quickly consider their nominations.”
The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend nearly $10 trillion in loans.
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