In response to published reports that John Snow will resign as secretary of the treasury and return to private life in mid-June, National Association of Manufacturers (NAM) President John Engler saluted Snow for his “distinguished leadership and contributions to economic growth.”
Snow previously served as chairman and chief executive officer of CSX Corp., helping the company increase profits and reduce worker injuries. Snow served in a variety of government posts and as Chairman of the Business Roundtable before leading CSX.
“John Snow was a Treasury Secretary who understood – more than many in that position did – how significantly financial developments impact the manufacturing sector of our economy,” Engler said. “The results of his policies and leadership speak for themselves. After a little more than three years on the job, John Snow can point to solid across-the-board economic growth, historically low unemployment and growing exports as evidence of his effectiveness. He has served our country exceedingly well and deserves our gratitude.
“He laid out a dollar policy for the United States stressing that the value of the dollar had to be set by the marketplace free of government intervention. He pressed this point forward, particularly with respect to China. When he started urging China to allow its currency to appreciate, he was one of very few voices, but today the International Monetary Fund, the World Trade Organization, the G-8 Economies and virtually everyone else has joined in that call. His leadership has been vital.”