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Sen. Tom Coburn to support Yellen for Federal Reserve Chairman

by Chris Casteel Published: November 21, 2013
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Sen. Tom Coburn, R-Muskogee, announced Thursday that he will support Janet Yellen’s nomination to serve as chairman of the Federal Reserve. Coburn is a member of the Banking, Housing and Urban Affairs Committee.
Coburn said, “I am supporting Janet Yellen’s nomination because she is unquestionably qualified to serve as the next chair of the Federal Reserve.
“My support of her, however, is in no way an endorsement of the Federal Reserve’s risky quantitative easing policy. Unfortunately, the Federal Reserve has attempted to fill a leadership and policy vacuum that has been created by an administration and Congress that has refused to address our economic challenges and implement pro-growth economic policies.
“Yet, I’m concerned quantitative easing will only create new asset bubbles and will serve as a bailout for politicians who don’t want to make hard choices.
“In the future, the Federal Reserve’s decisions will be dictated by pragmatism rather than ideology for the simple reason that we can’t operate indefinitely on borrowed or printed money. Yellen will be well-suited to navigate the treacherous waters ahead.”

by Chris Casteel
Washington Bureau
Chris Casteel began working for The Oklahoman's Norman bureau in 1982 while a student at the University of Oklahoma. After covering the police beat, federal courts and the state Legislature in Oklahoma City, he moved to Washington in 1990, where...
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