Oregon’s Senator Jeff Merkley announced Thursday he has been awarded the chairmanship of a subcommittee of the Senate Banking Committee, the Subcommittee on Economic Policy. This subcommittee has jurisdiction over issues related to economic growth, employment and price stability, as well as monetary policy and small business lending. It also has oversight of the new Financial Stability Oversight Council, an important new coordinating body charged by the Dodd-Frank Wall Street Reform and Consumer Protection Act with advancing financial sector reforms.
“We need an economy that creates opportunities and good jobs for everyone who’s willing to work hard,” Merkley said. “Too many Oregonians are still out of work, and too many who work are scrimping and scraping just to tread water. I look forward to using my new role as subcommittee chairman to push for pro-growth policies that give working families and small businesses across Oregon the chance to get ahead.”
Other issues the subcommittee has jurisdiction over are money and credit, including currency, coinage and notes; prices of commodities, rents and services; economic stabilization; financial aid to commerce and industry; loan guarantees; flood insurance; and disaster assistance.