jmdrake
03-01-2010, 09:03 PM
First Bob Corker.
Dear Mr. Drake,
Thank you for contacting my office regarding the confirmation of the Ben Bernanke as Chairman of the Federal Reserve Board. Your input is important to me, and I appreciate the time you took to share your thoughts.
Like you, I understand the importance of having strong federal monetary policy with appropriate oversight measures, particularly during these difficult economic times. Due to the Federal Reserve's active role in attempting to stabilize our financial system, I recognize the necessity for a greater understanding of Fed's financial transactions.
As it relates to the Chairman of the Federal Reserve Board, I believe we need an individual who understands our complex financial markets, while at the same time can exercise unbiased monetary policy. I have had numerous conversations with Chairman Bernanke, particularly in the past several months, and I recently visited the Fed to review the documents related to AIG. Even though I have not agreed with every decision he has made, Mr. Bernanke is someone who is non-partisan, has a working knowledge of what brought about the financial crisis and the actions taken to prevent an even deeper recession.
Because he was the one who increased the size of the Fed balance sheet and has an intimate knowledge of the Federal Reserve's holdings, I believe it is important that he is the person to unwind it. In addition, the concerns about inflation are certainly well merited based on the measures the Fed has taken to address our most recent financial crisis. In my conversations with Chairman Bernanke, he made it very clear that he will use every tool at his disposal to avoid runaway inflation and get our money supply under control. That is why I supported Chairman Bernanke to be the Chairman of the Federal Reserve Board during this uncertain time for the global financial system.
Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate.
Sincerely,
Bob Corker
United States Senator
I'll post Lamar Alexander's next. (He sent his through the mail so I'll have to scan it in. His is worse than Corker's. At least Corker somewhat admitted there was a problem.)
Dear Mr. Drake,
Thank you for contacting my office regarding the confirmation of the Ben Bernanke as Chairman of the Federal Reserve Board. Your input is important to me, and I appreciate the time you took to share your thoughts.
Like you, I understand the importance of having strong federal monetary policy with appropriate oversight measures, particularly during these difficult economic times. Due to the Federal Reserve's active role in attempting to stabilize our financial system, I recognize the necessity for a greater understanding of Fed's financial transactions.
As it relates to the Chairman of the Federal Reserve Board, I believe we need an individual who understands our complex financial markets, while at the same time can exercise unbiased monetary policy. I have had numerous conversations with Chairman Bernanke, particularly in the past several months, and I recently visited the Fed to review the documents related to AIG. Even though I have not agreed with every decision he has made, Mr. Bernanke is someone who is non-partisan, has a working knowledge of what brought about the financial crisis and the actions taken to prevent an even deeper recession.
Because he was the one who increased the size of the Fed balance sheet and has an intimate knowledge of the Federal Reserve's holdings, I believe it is important that he is the person to unwind it. In addition, the concerns about inflation are certainly well merited based on the measures the Fed has taken to address our most recent financial crisis. In my conversations with Chairman Bernanke, he made it very clear that he will use every tool at his disposal to avoid runaway inflation and get our money supply under control. That is why I supported Chairman Bernanke to be the Chairman of the Federal Reserve Board during this uncertain time for the global financial system.
Thank you again for your letter. I hope you will continue to share your thoughts with me as I serve you in the United States Senate.
Sincerely,
Bob Corker
United States Senator
I'll post Lamar Alexander's next. (He sent his through the mail so I'll have to scan it in. His is worse than Corker's. At least Corker somewhat admitted there was a problem.)