[Congressional Record Volume 168, Number 81 (Thursday, May 12, 2022)]
[Senate]
[Page S2466]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                              Nominations

  Madam President, on nominations, it has been a productive week on the 
Senate floor when it comes to nominations. Earlier this week, the 
Senate finally confirmed a highly qualified and historic nominee to 
serve on the Federal Reserve Board of Governors: Lisa Cook.
  Coming from humble beginnings in rural Georgia, where her family 
fought segregation, Ms. Cook will be the first Black woman to ever sit 
on the Federal Reserve Board of Governors. She is a professor of 
economics at Michigan State, a member of the Federal Reserve Bank of 
Chicago's Advisory Board, and she served as a senior economist on 
President Obama's Council of Economic Advisers. She absolutely belongs 
on the Board, and I am glad she was finally confirmed.
  Yesterday, we also confirmed Alvaro Bedoya as a Commissioner on the 
Federal Trade Commission, breaking a 
2-to-2 deadlock that has kept the FTC from full strength for over a 
year.
  Mr. Bedoya's nomination is fantastic news for the American people. 
The FTC will be empowered to fight against price gougers, market 
manipulators, and go after bad actors using anti-competitive practices 
to drive up prices. We have been urging the FTC, for instance, to look 
at market manipulation and price gouging when it comes to gasoline, and 
now they will have the ability to do so because the Republican 
Commissioners refuse to move forward, but now we have a majority of 
Democrats on that Commission.
  This week, the Senate also confirmed another Fed nominee, Philip 
Jefferson, and secured Democratic majorities on important labor-focused 
Agencies, including the Federal Labor Relations Authority. Next week, 
we will also start the process to confirm more Democrats to the 
Consumer Product Safety Commission.
  Finally, later today, the Senate will vote on Jerome Powell to serve 
another term as Chairman of the Federal Reserve. Few institutions are 
more important to help steer our economy in the right direction--and to 
fight inflation--than the Fed. Chairman Powell presided as Fed Chair 
during some of the most challenging moments in modern American history. 
I thank all of my colleagues--particularly Senator Brown, chairman of 
our Banking Committee--who have worked to move forward with this 
important nomination.