Thune: Republicans Plow Ahead on President Trump’s Nominations Despite Democrat Obstruction

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WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today delivered the following remarks on the Senate floor: Thune’s remarks below (as delivered): “Mr. President, later today the Senate will finish considering the nomination of Kevin Warsh to be the 17th chairman of the Federal Reserve. “Leading the Federal Reserve System is an enormous task. “The decisions the Fed makes affect Wall Street and Main Street and kitchen tables all across the country. “So it’s critical that we have people who understand not only the macro – the global economy and the markets – but who appreciate the microeconomy: and that’s the hardworking Americans, their jobs, and their livelihoods. “Mr. President, Kevin Warsh is just such a person. “He credits his knowledge of the real economy to growing up in upstate New York, where his dad ran a children’s clothing store and manufacturing company. “From Shaker High School, he went on to Stanford University and then Harvard Law School. “He then started a career on Wall Street, but he shifted to public service, joining the Bush administration’s economic policy team in 2002. “Four years later, President Bush nominated him to the Federal Reserve Board of Governors. “And at age 35, Kevin Warsh was unanimously – unanimously – confirmed here in the Senate and became the youngest governor in the history of the Federal Reserve. “Mr. President, being the youngest person to take a seat in the Federal Reserve’s Board Room is impressive enough, but Kevin Warsh didn’t just take his seat – he was a key player during the time he was on the board. “Mr. President, Kevin Warsh seems to have just the profile of a Federal Reserve chairman. “Yet Democrats oppose his nomination. “That’s right. “For the first time in its history, the Banking Committee reported out a nominee for Fed chairman on a party-line vote because every single Democrat opposed Mr. Warsh’s nomination. “And actually, only one Democrat was even present for the vote – the other 10 Democrats on the Banking Committee didn’t even bother to show up for it. “And yesterday on the floor, all but one Democrat opposed the first of Mr. Warsh’s two nominations: his nomination to be on the Board of Governors. “Mr. President, he’s already had that job, and a number of Democrats actually supported his nomination the last time. “But those same Democrats voted yesterday against appointing him to the board, and I suspect they’ll do the same when it comes time to vote on his other nomination to be the chairman later today. “Mr. President, I wish I could say I’m surprised, but this is just how bad Trump Derangement Syndrome has gotten on the other side of the aisle. “Democrats won’t say so, but that’s what it is. “Mr. President, I expect we’re going to hear Democrats attempt to justify their opposition by suggesting that a Chairman Warsh would somehow threaten the Fed’s independence. “And I have to say that’s a pretty serious claim. “And one that doesn’t really have a basis in reality. “To begin with, Mr. Warsh’s testimony before the Banking Committee should have put any concerns about his independence to rest. “But if the depth of his commitment to Fed independence was at all unclear, I recommend my colleagues review a speech he gave in 2010 titled, ‘An Ode to Independence,’ in which he said, and I quote, ‘Central bank independence is precious … Ensuring Fed independence – as the cornerstone of institutional credibility – is our charge to keep. It is central to what the Federal Reserve represents, and to how policy is conducted.’ “Or they could ask Randall Kroszner, who served with Warsh on the Fed board, who said, and I quote, ‘He’s not an ideologue. Since I’ve known him, he was someone who tried to get things done.’ “Or maybe – maybe – they could just ask the Democrat leader, who introduced Kevin Warsh at his 2006 confirmation hearing. “And he said then of Warsh, and I quote, ‘He knows unequivocally that the Fed must be independent, nonideological, and nonpartisan, and for this reason, I am proud to support his nomination.’ “That, Mr. President, was the Democrat leader’s comments, who’s now leading the charge in opposing Warsh’s nomination. “Mr. President, it doesn’t seem to matter who President Trump nominates, Democrats blindly oppose them. “Democrats aren’t interested in a person’s qualifications. “All they care about is opposing President Trump. “And it’s been that way since he took office last January. “President Trump is the only president on record who has not had a single – single – civilian nominee approved by voice vote or by unanimous consent here in the United States Senate. “Only president in history! “Democrats have dragged out the process on every single one of his nominations. “And the fact that two Democrats voted for our former colleague Markwayne Mullin to be secretary of DHS, in this day and age here, appears to be an act of courage in today’s Democrat Party – even though it was a vote that traditionally would have been widely bipartisan, if not unanimous. “But not when Democrats are in the throes of Trump Derangement Syndrome. “Mr. President, it’s shameful. It really is. “But Republicans aren’t letting it stop us. “In September, we took steps to restore Senate precedent on largely noncontroversial presidential nominees to ensure that no other president has to face the kind of petty – and I mean petty – partisanship that President Trump has encountered. “Very soon, we will vote on a fourth nominations package containing 49 Trump nominees who have had their hearings and markups and are ready for confirmation. “And we’ll keep moving forward. “Mr. President, I know that Democrats aren’t happy that Donald Trump is the president. “But that doesn’t mean that nominations should be held up for purely political reasons. “As the Democrat leader said just a few years ago, and I quote, ‘That doesn’t mean we don’t disagree. But it does mean when nominees are held up, opposed, or blocked — it’s for a legitimate purpose, not for leverage in partisan games...’ “Well, unfortunately, Mr. President, Democrats have made it pretty clear that they are only – only – interested in partisan games since President Trump took office. “But we’ve got a country to run, and Republicans are doing our job.”