BALTIMORE – U.S. Senator Ben Cardin (D-Md.), Chair of the Senate Small Business and Entrepreneurship Committee and a senior member of the Senate Finance Committee, released the following statement in response to the nomination by President Joe Biden of Marylander Sarah Bloom Raskin to serve as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System, as well as the nominations of Lisa Cook and Philip Jefferson to serve on the Board of Governors of the Federal Reserve System
“What American families, workers and small businesses need at the Federal Reserve is strong and steady leadership that works for them. These qualified nominees will bring world-class experience and knowledge to serve Marylanders and our country during these trying times. Our nation faces many economic challenges, from the COVID-19 pandemic to historical underinvestment in underserved communities and the threat of climate change affecting our daily lives. I am confident that these nominees, if confirmed, will be critical voices in steadying the economy and ensuring the Fed’s policies are carried out fairly for all of us.
“I have long been a supporter of Sarah Bloom Raskin, having had the privilege of introducing her to my Senate colleagues for previous confirmation hearings. I am excited at the continuing role she will play in guiding our economy toward future growth and stability. Her deep financial and regulatory knowledge and sound judgment made her an essential asset in each role she has undertaken.”