WASHINGTON – U.S. Secretary of Labor Marty Walsh issued the following statement on President Biden’s nomination of Jerome Powell as Chair and Lael Brainard as Vice Chair of the Federal Reserve:
“These nominations are good news for America’s workers. The President’s economic plan has produced a historic recovery that has restored 5.6 million jobs, increased worker power and raised wages for workers at the lower end of the income distribution.
Chair Powell’s actions and Lael Brainard’s guidance have been responsive to the challenges facing workers during the pandemic and they have helped to advance this worker-centered recovery. Both of these independent leaders share the Administration’s focus on economic growth that benefits all workers, which is the key to building a more just and a resilient economy moving forward.”