The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“EXECUTIVE SESSION” mentioning the Federal Reserve System was published in the Senate section on pages S6251 on Oct. 2, 2017.
The Federal Reserve is the US's central bank, expanding many times during great financial uncertainty and panic. It has faced numerous criticisms since its creation in 1913, such as making the Great Depression worse and for lacking transparency and audits.
The publication is reproduced in full below:
EXECUTIVE SESSION
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EXECUTIVE CALENDAR
Mr. McCONNELL. Mr. President, I move to proceed to executive session to consider Calendar No. 301, Randal Quarles.
The PRESIDING OFFICER. The question is on agreeing to the motion.
The motion was agreed to.
The PRESIDING OFFICER. The clerk will report the nomination.
The legislative clerk read the nomination of Randal Quarles, of Colorado, to be a Member of the Board of Governors of the Federal Reserve System for the unexpired term of fourteen years from February 1, 2004.
Cloture Motion
Mr. McCONNELL. Mr. President, I send a cloture motion to the desk.
The PRESIDING OFFICER. The cloture motion having been presented under rule XXII, the Chair directs the clerk to read the motion.
The legislative clerk read as follows:
Cloture Motion
We, the undersigned Senators, in accordance with the provisions of rule XXII of the Standing Rules of the Senate, do hereby move to bring to a close debate on the nomination of Randal Quarles, of Colorado, to be a Member of the Board of Governors of the Federal Reserve System for the unexpired term of fourteen years from February 1, 2004.
Mitch McConnell, Orrin G. Hatch, James Lankford, Jerry
Moran, Johnny Isakson, John Thune, Thom Tillis, Shelley
Moore Capito, Mike Crapo, James E. Risch, Mike Rounds,
John Barrasso, John Cornyn, Chuck Grassley, John
Boozman, John Hoeven, Rob Portman.
Mr. McCONNELL. Mr. President, I ask unanimous consent that the mandatory quorum call with respect to the cloture motion be waived.
The PRESIDING OFFICER. Without objection, it is so ordered.
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