U.S. Rep. Blaine Luetkemeyer (MO-03) issued the following statement after President Trump announced his intent to nominate Jay Powell to serve as the next chairman of the Board of Governors of the Federal Reserve System:

“I congratulate Jay Powell on his nomination to serve as the next Federal Reserve chair,” Luetkemeyer said. “I am confident Governor Powell will carve his own path as chairman and shape policies that will benefit our economy. It is my sincere hope he will work with his colleagues to instill a more common-sense approach to supervision that is needed at the agency. I look forward to continuing to work with Governor Powell in his new role and learning more about the direction in which he will steer the Federal Reserve.”