November 21, 2013

Senators Warren, Heitkamp Applaud Banking Committee Bipartisan Approval of Janet Yellen's Nomination

WASHINGTON, DC - United States Senators Elizabeth Warren and Heidi Heitkamp today applauded the Senate Banking Committee's bipartisan approval of Janet Yellen's nomination to serve as Chairman of the Board of Governors of the Federal Reserve System (Fed), and highlighted the critical role of the Fed Chair in overseeing the Fed's supervisory and regulatory responsibilities.

"Janet Yellen has impeccable credentials, and I'm very pleased she was voted out of committee with bipartisan backing," said Senator Warren. "She recognizes middle-class families are still struggling to dig out of the hole the financial crisis created, and that now is no time for the Fed to pull back. Governor Yellen also understands that the Fed should be playing an active role in supervising and regulating the largest financial institutions, and that the Fed's supervisory responsibilities are just as important as its monetary policy responsibilities. I hope the Senate will act swiftly to confirm her so she can get to work leading the Fed at this important time."

"As we still recover from the worst recession since the Great Depression, Dr. Yellen has the experience and intellect that is necessary to lead our central bank," said Senator Heitkamp. "Today's bipartisan vote reinforces the strong support for Dr. Yellen's nomination and helps propel her toward a successful vote by the full Senate. I look forward to voting to confirm her on the Senate floor and hope she will bring creativity to the role in order to get our economy moving."

Governor Yellen was confirmed by the Banking Committee by a 14-8 vote. Her nomination will now move to the full Senate.