BENNET STATEMENT ON VOTING AGAINST THE CONFIRMATION OF KEVIN WARSH AS CHAIR OF FEDERAL RESERVE

The following information was released by Colorado Senator Michael Bennet:

Today, Colorado U.S. Senator Michael Bennet released the following statement after he voted against Kevin Warsh's nomination to serve as the Chairman of the Board of Governors of the Federal Reserve System:

"Today, I voted against confirming Kevin Warsh to serve as Chair of the Federal Reserve. An independent Federal Reserve is an essential feature of our economic system. Every American should have the confidence that interest rate decisions are being made according to the data presented, rather than the political demands of the moment. The United States has the world's largest economy and most developed capital markets but this is premised on a central bank that is free from political influence, and a Federal Reserve Chair able to make difficult decisions in moments of crisis.

"I have no confidence that Kevin Warsh will provide the independence this role requires. Under his leadership, the Federal Reserve risks becoming more responsive to President Trump than to the American people, and to the needs of the American economy. That is one of the reasons why, for the first time in history, a nomination for Federal Reserve Chair advanced out of the Senate Banking Committee on a strictly partisan basis.

"Americans deserve a central bank focused on managing inflation, achieving economic stability, and serving the public interest not one driven by the short-term desires of the President. Kevin Warsh's nomination jeopardizes the Federal Reserve's ability to meet these fundamental responsibilities."