Andrew Harnik, Associated Press
Sen. Mike Lee, R-Utah, accompanied by Sen. Bernie Sanders, I-Vt., left, and Sen. Chris Murphy, D-Conn., right, speaks at a news conference on Capitol Hill in Washington, Wednesday, Jan. 30, 2019, on a reintroduction of a resolution to end U.S. support for the Saudi-led war in Yemen. (AP Photo/Andrew Harnik)

SALT LAKE CITY — Sen. Mike Lee has been elected as chairman of the Joint Economic Committee.

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"While our country is currently on strong economic footing, the measure of our country’s strength cannot be broken down solely into dollars and cents," the Utah Republican said in a statement.

"We must look to find solutions to problems such as family affordability and stability, disconnection from work, and other features of our declining associational life."

Lee was appointed to the committee in 2011 and has served as its vice chairman. The committee, made up of Senate and House members, is tasked with reviewing economic conditions and recommending improvements in economic policy.