Congressman Andy Barr (KY-06) issued the following statement after President Donald Trump nominated Jerome “Jay” Powell to serve as the next Chairman of the Federal Reserve:

“In Jay Powell, President Trump has selected an experienced and well-respected nominee to serve as the next Chairman of the Federal Reserve.  As the Chairman of the Subcommittee on Monetary Policy and Trade, which has jurisdiction over the Federal Reserve, I look forward to working with Mr. Powell and encouraging him and other members of the Federal Open Market Committee to institute a more transparent, and strategy-based monetary policy so that households and businesses can make investment and financial decisions with greater confidence and certainty.  I am also encouraged that Mr. Powell has signaled a willingness to reform and streamline overly-burdensome financial regulations.”

“I would also like to thank the current Chair of the Federal Reserve Janet Yellen for her service to our nation.  While we have differed on policy views, I respect her intellect and I have enjoyed working with her.”