WASHINGTON, D. C. – The National Bankers Association is pleased that President Joseph R. Biden today announced the appointment of Jerome Powell as Chair of the Board of Governors of the Federal Reserve System to another four-year term, pending Senate confirmation.

“During a particularly challenging period, Chairman Powell has been supportive of community banks and MDIs, which the NBA represents,” said NBA President and CEO Nicole Elam. “The NBA looks forward to additional Federal Reserve Board appointments and hopes these appointments reflect the diversity in our economy.”

The NBA also congratulates Dr. Lael Brainard on her nomination as Vice-Chair of the Board of Governors of the Federal Reserve System.