[Congressional Record Volume 140, Number 11 (Tuesday, February 8, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: February 8, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                         SALUTE TO WAYNE ANGELL

  Mr. DOLE. Mr. President, as republican leader, I have had the 
opportunity to recommend a number of outstanding Americans for 
appointments in various administrations.
  And no doubt about it, one of the recommendations in which I have 
always taken great pride was to name Wayne Angell to the Federal 
Reserve Board.
  When Wayne Angell leaves the Federal Reserve Board on February 10, he 
will leave behind an 8-year record as a voice for low inflation, low 
interest rates, and common sense.
  As the Wichita Eagle wrote this week, ``For Wayne Angell, self-
reliance is preferable to government programs; markets generally 
regulate themselves better than do governments; and prosperity is more 
likely to ensue when the impulse to tax is restrained.''
  I am proud to say that Wayne Angell learned those lessons in Kansas. 
He was born in Liberal, KS, and received degrees from Ottawa University 
and Kansas University. Before coming to the Fed, Wayne had been an 
educator, a banker, a small businessman, a State legislator, and a 
farmer.
  In fact, when he was appointed to the Federal Reserve by President 
Ronald Reagan in 1985, Governor Angell became the only farmer and the 
only small banker to serve on this distinguished panel.
  Among those who watch the Federal Reserve closely, Wayne has earned a 
reputation as an inflation hawk who strove to make the dollar as good 
as gold, and as someone who helped bring both inflation and interest 
rates to the lowest levels in a generation.
  There is little doubt among economists that low interest rates were 
the primary force pushing the economy forward in 1993.
  The millions of Americans who took advantage of these low rates to 
purchase a first home or refinance their mortgage owe Governor Angell a 
debt of gratitude.
  Mr. President, Wayne D. Angell has done an excellent job at the 
Federal Reserve. And I know that whatever road Wayne takes in the 
future, he will continue to make a positive difference in the life of 
Kansas, and the life of America.
  I thank the Chair.
  (The remarks of Mr. Dole pertaining to the introduction of S. 1836 
are located in today's Record under ``Statements on Introduced Bills 
and Joint Resolutions.'')

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