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ABA: The American Bankers Association
Statement

ABA Statement on Federal Reserve Nominations

"We congratulate Chair Powell on his renomination to serve another term as chair of the Federal Reserve Board. Chair Powell has been tested in ways no other Fed chair has, and his strong response to the COVID-19 pandemic helped keep the country from suffering even greater economic harm. He has demonstrated a commitment to maintaining the safety and soundness of the banking system, while also looking for opportunities to enhance the regulatory framework, economic growth and financial inclusion.

"We also want to congratulate Governor Brainard on her nomination to serve as the next Federal Reserve Board vice chair. Governor Brainard brings a wealth of experience and understanding of the economy to this critically important position. She also understands the essential role banks of all sizes play in the economy. We look forward to continuing to work with Governor Brainard, Chair Powell and their colleagues at the Federal Reserve to grow the economy and expand opportunities for all Americans."

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About the American Bankers Association

The American Bankers Association is the voice of the nation’s $23.3 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $19.2 trillion in deposits and extend nearly $11 trillion in loans.

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Jeff Sigmund

(202) 663-5439

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