May 12, 2023

Scott Statement on Federal Reserve Nominees

Washington, D.C. – U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Committee on Banking, Housing, and Urban Affairs, today released the following statement after President Biden announced his intent to nominate Philip Jefferson to serve as Vice Chair of the Federal Reserve, as well as Lisa Cook and Adriana Kugler, to serve on the Board of Governors of the Federal Reserve:

“It is critical during these inflationary times that Federal Reserve nominees are exceptionally qualified. I look forward to thoroughly vetting these nominees and determining if they are equipped to address our nation’s economic challenges.”