Toomey Praises Quarles’ Tenure at Federal Reserve

Washington, D.C. – U.S. Senate Banking Committee Ranking Member Pat Toomey (R-Pa.) released the following statement after Federal Reserve Governor Randal Quarles submitted his resignation.

“I want to thank Governor Quarles for his service at the Federal Reserve. As Vice Chair for Supervision, he played a pivotal role in assuring our nation’s economic stability and recovery before, during, and after the pandemic. Because of the reforms he implemented, our banking system is stronger and more resilient than it’s ever been.

“I hope the Biden administration will nominate an individual who will build on the successes of Governor Quarles rather than seek to undermine the progress that has been made under his leadership.”

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