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Congressman Gregory W. Meeks Praises Federal Reserve's Actions


Location: Washington, DC

Congressman Gregory W. Meeks (D-NY), a senior member of the House Financial Services Committee, released the following statement today in support of the Federal Reserve's plan to strengthen the economy:

"I praise Chairman Ben Bernanke and the Federal Open Market Committee at the Federal Reserve for taking additional measures today to fuel the economy, lessen financial burdens on struggling households, and lower unemployment. The Federal Reserve's plan to purchase billions in agency mortgage backed securities while keeping interest rates low advances the goals of a robust economy in a responsible manner, balancing its twin mandate of price stability and full employment.

"Virtually every action the Fed has taken under Chairman Bernanke's leadership since the beginning of the financial crisis has been in the interest of a strong and robust economy, designed to protect the financial system from collapse while lowering unemployment. I am pleased to see the Fed will continue such measures, regardless of the irresponsible, unprecedented, and virulent attacks leveled against Chairman Bernanke by Republicans. Strengthening our economy should be a nonpartisan issue, and I am pleased to see the Federal Reserve maintain its independence and pursue the measures necessary to protect American workers in the face of wholly inappropriate political assaults. I sincerely hope this independence continues unabated."

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