Statement by Federal Reserve Board Chair Yellen on the nomination of Governor Powell by President Trump

The following press release was published by the Board of Governors of the Federal Reserve System on Nov. 2, 2017. It is reproduced in full below.

Statement by Federal Reserve Board Chair Janet L. Yellen: I congratulate my colleague Jay Powell on his nomination to be Chairman of the Federal Reserve Board. Jay's long and distinguished career has been marked by dedicated public service and seriousness of purpose. I am confident in his deep commitment to carrying out the vital public mission of the Federal Reserve. I am committed to working with him to ensure a smooth transition.

Source: Board of Governors of the Federal Reserve System