U.S. Rep. Blaine Luetkemeyer (MO-03), Chairman of the House Subcommittee Financial Institutions and Consumer Credit issued the following statement after  Jay Powell was confirmed as the next chairman of the Federal Reserve:

“Congratulations to Jay Powell on today’s well-deserved confirmation,” said Chairman Luetkemeyer. “With Chairman Powell’s new leadership we have a great opportunity to instill a more practical approach to supervision at the Federal Reserve that benefits the economy and the health of our financial system.  I look forward to working with the Chairman and all members of the Board of Governors.  Lastly, I thank outgoing Chair Yellen for her service to the Fed and our country.”