December 5, 2006
HP-189
Opening Statement of Phillip L. Swagel,
Nominee, Assistant Secretary for Economic Policy
Before the Senate Finance Committee
Chairman Grassley, Ranking Member Baucus, and Members of the Committee, thank you for the opportunity to appear before you today. I am honored to be President Bush's nominee to be Assistant Secretary of the Treasury for Economic Policy, and I thank the President and Secretary Paulson for their confidence in me.
I am especially grateful to my family for both their encouragement and their forbearance in permitting me to seek to return to government service. I would also like to thank my mother, Deanna Epstein, for a lifetime of support, and my stepfather, David Epstein, for his continued encouragement--and for his courage 25 years ago in marrying into a family with three teenage boys. I can only hope and believe that my late father, Michael Swagel, would have been pleased and proud at this day.
In my professional career, I have had the good fortune to work with talented colleagues and to learn from supportive mentors at the Federal Reserve, the International Monetary Fund, and the Council of Economic Advisers. If confirmed, I will be fortunate to work with the dedicated Treasury professionals led by Secretary Paulson and will contribute my professional experience to the Administration's efforts to tackle the economic challenges facing this country.
Much of my economic research has focused on the impact of international influences and technological and demographic change on the
Thank you again Mr. Chairman for the privilege of appearing before this Committee. If confirmed, I can assure you I will work closely and enthusiastically with the Members of this distinguished committee. I would be pleased to respond to your questions.