Federal Reserve Nominee Ben Benanke Has Big Shoes to Fill

Statement

Castle: Federal Reserve Nominee Ben Bernanke Has Big Shoes to Fill

Many financial challenges lie ahead, Castle says

Delaware Congressman Mike Castle, a Senior Member of the House Financial Services Committee, today released the following statement regarding the nomination of Ben Bernanke, currently the Chairman of the President's Council of Economic Advisers, to succeed Alan Greenspan as Chairman of the Federal Reserve:

"First, I'd like to thank Chairman Greenspan for his 18 years of service to this nation. Through budget surpluses and deficits, he has led this nation's monetary policy over many presidencies and through many challenges. There is no question that Ben Bernanke, the President's nominee, has large shoes to fill. His experience in economic policy as a former Federal Reserve Governor and of course as the chief economic adviser to the President should serve him well.

"All Americans should pay close attention to this nomination, as it will affect all investors -- those with loans, those with businesses, those with mortgages -- and many more. This country is currently facing a host of economic challenges, including our deficit, high expenditures, revenue reducing proposals, a comprehensive energy policy to address oil and gas prices, and of course the overarching goal of long term economic growth to get the federal budget back in balance. As a member of the Financial Services Committee, I look forward to hearing from Mr. Bernanke about his beliefs in guiding this nation's monetary policy in the 21st century."

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