Chairman, Tim Scott (R-SC) of U.S. Senate Committee on Banking, Housing, and Urban Affairs. | https://www.banking.senate.gov/about/ranking-member
Chairman, Tim Scott (R-SC) of U.S. Senate Committee on Banking, Housing, and Urban Affairs. | https://www.banking.senate.gov/about/ranking-member
At a nominations hearing before the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Chairman Tim Scott underscored the qualifications of President Trump's nominees for key economic policy and financial regulator positions. The nominees include Dr. Stephen Miran for Chairman of the Council of Economic Advisors, Mr. Jeffrey Kessler for Under Secretary of Commerce for Industry and Security, Mr. William Pulte for Director of the Federal Housing Finance Agency, and Mr. Jonathan McKernan for Director of the Bureau of Consumer Financial Protection.
Chairman Scott stressed the urgency of advancing these nominations to rebuild the economy and restore confidence in the financial system. "If confirmed, you will help put our nation back on the path to prosperity," he stated.
Scott reflected on his own experiences growing up in poverty, emphasizing that inflation disproportionately affects communities like his own. He criticized the Biden administration's handling of economic issues: "During Joe Biden’s time in office, overall prices rose by over 20 percent."
He praised President Trump’s approach to economic recovery: "Unlike his predecessor, President Trump understands what it takes to create a blue-collar comeback."
Dr. Stephen Miran was highlighted as an economist advocating fiscal responsibility who will aid in rebuilding America's economy. Mr. Kessler's experience is seen as vital for strengthening supply chains and ensuring U.S. leadership in technology.
On housing issues, Scott noted that under President Biden homeownership became unaffordable for many Americans. William Pulte was described as having a deep understanding of the housing market needed to address these challenges.
Lastly, Scott criticized how the CFPB operated under Biden's administration and expressed confidence that Jonathan McKernan could ensure it works effectively for consumers.
The hearing emphasized not only these nominations but also broader concerns about economic direction and policies affecting American families and businesses.
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