I am pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this afternoon. Also, i want to welcome the chairman of the Senate Banking committee, who has done an incredible job, mike crapo. Where is mike . Please, mike. Great job. Appreciate it. [applause] pres. Trump as president , there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office. Few of those trusted positions are more important than the chairman of the Federal Reserve. Accordingly, it is my pleasure and honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations. Mr. Powell thank you. [applause] pres. Trump he is joined by his wife and his two sisters, and i say congratulations to you all. Please, take that bow, you deserve it. Thank you for being here. Today is another important milestone on the past to restore Economic Opportunity for the american people. And just a short time, we have already made incredible strides. Unemployment is at its lowest level in more than 16 years. You know that very well. You know that very well, you are happy about it. We have had backtoback quarters of 3 growth, a major accomplishment, and we are doing better and better every, single week. But if we are to sustain all of this tremendous economic progress, our economy requires sound Monetary Policy and prudent oversight of our Banking System. That is why we need strong, sound and steady leadership at the United StatesFederal Reserve. I have nominated jay, it is so important, he will provide exactly that type of leadership. He is strong, committed and smart. If he is confirmed by the senate, he will put his considerable talents and experience to work leading our nations independent central bank, which has the critical responsibility to set Monetary Policy and monitor our Banking System as a whole. There are few more important positions than this, believe me, in our government. Jay has served on the Federal Reserve board of governors since 2012. During his five years at the fed, he has earned the respect and admiration of his colleagues for his hard work, expertise and judgment. He has proven to be a consensus builder for the sound monetary and financial policy that he so strongly believes in. Based on his record, i am confident that he has the wisdom and leadership to guide our economy through any challenges that our great economy may face. He has earned the respect of members of congress straight across party lines. For each of his appointments to the fed, the Senate Confirmed him with strong support from members of both parties. That is unusual. I hope the senate will swiftly the fed, the Senate Confirmed confirm him once again. He will bring to the fed a unique background of prior Government Service and business experience. He previously served as undersecretary at the department of treasury in the administration of president george h. W. Bush, and just like William Mcchesney martin, the longest serving chairman and Federal Reserve history, he will bring extensive private sector experience and realworld perspective to our government. As a result, he understands what it takes for our economy to grow. Just as importantly, he understands what truly drives american success. The innovation, hard work and dreams of the american people. I also want to thank the current fed chair, janet yellen, a wonderful woman who has done a terrific job. We have been working together for 10 months, and she is absolutely a spectacular person. Janet, thank you very much, we for the past four years, she has served with the dedication and devotion, and we are grateful for her total commitment to public service. The Federal Reserve is one of the most important institutions in our government. It is respected all around the world, it is crucial to our economic prosperity. I am confident that with jay as a wife the steward of the leadership it needs in the years to come. Thank you, and god bless you all. Now i would like to invite jay to say a few words. Thank you, thank you very much. [applause] mr. Powell thank you very much for the faint you have shown in me through this nomination. I am honored and humbled by this opportunity to serve our great country. If i am confirmed by the senate, i will do everything within my power to achieve our congressional assigned goals of stable prices and maximum employment. I want to thank my wife for her love, support and wise counsel. Without her, i would not be standing here. We are thinking today of our three children and the world they are inheriting. My five siblings and i, two of whom are here with me, are also thinking of her parents, who gave us so many gifts, including a loving home. In the years since the Global Financial crisis ended, our economy has made substantial progress to full recovery. We are close to full employment, inflation has gradually moved toward our target. The Financial System is without a doubt far stronger and more resilient than it was before the crisis. Our banks have much higher capital and liquidity, the are more aware of the risks they run and better at managing those risks and while postcrisis improvement and regulation and supervision have helped achieve these games, i will continue to work with my colleagues to ensure the Federal Reserve remains vigilant and prepare to respond to changes in the markets and evolving risks. Finally, to echo the president s remarks, i have the great privilege of serving under chair yellen, who guided the economy with insight encourage the courageht and through difficult times while moving Monetary Policy toward Greater Transparency and predictability. Each of them embodies the highest ideals of public service. Unquestioned integrity and unflinching commitment. Inside of the Federal Reserve, we understand that Monetary Policy decisions better for American Families and communities. I strongly share that sense of mission and am committed to making decisions with objectivity, based on the best available evidence, and the longstanding tradition of Monetary Policy independence. Mr. President , thank you again for this extraordinary opportunity to serve the american people. Thank you. [applause] pres. Trump thank you, everybody. Thank you very much. Reporter mr. President , do you think you are in hot water in the Mueller Investigation . Discuss too soon to immigrant terrorism after vegas. Ngtonspans washi journal, live every day. Morning, taxs reporter lauren davis. And discussing the House Republican tax bill. Washi to watch cspans journal. Join the discussion. House republicans released their tax reform bill yesterday. We go to capitol hill for more. Host House Republicans unveiled their tax reform bill. We are joined by Aaron Lorenzo for politico pro, this has been a priority of speaker ryan and the ways and means chair, kevin brady. How did this tax reform bill come about . What was the process like . Guest well, it has been a busy year on the committee and with leadership. They have also coordinated with their Senate Counterparts and officials from the white house