WASHINGTON, D.C. – Ways and Means Committee Chairman Jason Smith (MO-08) issued the following statement after the U.S. Senate confirmed Kevin Warsh to be the next Chairman of the Federal Reserve:

“The Senate’s confirmation of my friend Kevin Warsh as the new Chairman of the Federal Reserve could not have come at a better time for the millions of working families and small businesses that have had to endure mismanagement at the Fed over the last few years. With Chairman Warsh taking over, our central bank will now be led by someone who appreciates how high interest rates have held back our country’s economic potential, making it harder for families to buy a home and small businesses to get a loan to invest and grow. With the Working Families Tax Cuts, Congressional Republicans alongside President Trump delivered real relief to working families and businesses, putting more money in their pockets, strengthening their financial security, and expanding their pathways to prosperity. While Americans are already feeling the benefits of our tax law – including the historic tax refunds they received this year – lower borrowing costs for families and job creators will help them maximize the impact of these benefits. I congratulate Chairman Warsh on his confirmation and hope this new leadership will ensure the Fed is no longer standing in the way of America’s economic growth.”