NM Senators Support Yellen as Federal Reserve Chair

The U.S. Senate confirmed the nomination of Janet Yellen as Federal Reserve Chair Monday.

Sens. Tom Udall and Martin Heinrich, New Mexico Democrats, both voted in support.

“Dr. Yellen has demonstrated good judgment and a keen understanding of conditions affecting the economy during her previous service at the Federal Reserve,” Heinrich said. “She has also shown an understanding that the Fed’s decisions can and do affect families struggling to get by in an economy where wages are too low and unemployment is too high. I am confident these traits will serve the country well and that her leadership will help drive policy decisions to boost our economy and put Americans back to work.”

“Today’s vote was a historic moment for the Federal Reserve and for our nation,” Udall said in a statement. “I look forward to seeing Dr. Yellen become the first woman to lead the Federal Reserve Board. As Vice Chair of the Fed, Dr. Yellen has proven herself to be a thoughtful and extremely effective leader. I look forward to her experienced hand and strong voice for working families as she takes its helm.”

“I am also pleased that our efforts to reform Senate rules allowed a swift up-or-down vote on Dr. Yellen,” Udall added. “The Senate is now able to do its job with respect to nominees without the partisan gridlock and obstruction that have become the norm in the Senate.”