Warren says she'll oppose second term for Powell

[Yo_Mama_Been_Loggin]

Source: The Hill

Sen. Elizabeth Warren (D-Mass.) said Tuesday she will oppose a second term for Federal Reserve Chair Jerome Powell over his financial regulatory record if President Biden chooses to renominate him.

Warren told Powell during a Senate Banking Committee hearing on Tuesday that she has "grave concerns" about his support for loosening financial rules, calling him a "dangerous man" to lead the central bank.

While Warren had suggested for months she may vote against Powell's renomination, her formal opposition is the most significant strike from progressives against the Fed chief.

Powell's term as Fed chair runs out in February, and Biden is under immense pressure from progressive Democrats and activist groups to replace the Republican with a staunch liberal.



Read more: https://www.msn.com/en-us/news/politics/elizabeth-warren-says-shell-oppose-powell-renomination/ar-AAOV7wO?li=BBnb7Kz

[AZLD4Candidate]

1. All termed Republican appointments should be denied access to governmental positions

and impeachment hearings need to start for Thomas, Alito, Justice Rapey, and Comey.

They did that to Abe Fortas for the same things those four have done and all are documented.

[bucolic_frolic]

2. Totally agree on that, but an incumbent President can use Fed Chair as blame

which is why so many are reappointed. Greenspan should have been out on his ear after one term, Bernanke too.

[toasty]

7. Interesting perspective

Perhaps true, but unfortunate. I'm sick and tired of political games played (by either party) to the detriment of the American public.

I want honesty, ownership, and leadership running this country. I'm way past done with the "perceptions" approach.

[bucolic_frolic]

8. That's why it's so great with Biden in charge

He's been transparent to the max. Whatever he does with Powell or appoints another, he'll give sound reasons and inform the people.

Powell I think is one of the wealthiest Fed chairs ever, and when you want to understand banking there's your guy. So he probably will be reappointed and hopefully the rest of the Fed will reign in his loose asset purchases, something the Fed was never designed to do.

[at140]

3. Powell must go!!! n/t

[mathematic]

4. Powell has done an excellent job. He's basically Yellen II

He had the right monetary policy to get us through the worst of the pandemic unemployment. Replacing him is pure politics, and bad.

[JohnSJ]

6. I agree, and your assessment is correct. I do not see President Biden replacing him. I don't think

some understand what the purpose of the fed is

[CountAllVotes]

5. Seriously, do not renominate Powell

Sen. Warren has it right!

Just say NO to Jerome Powell!

Enough of these crooked bottom feeders!

[rdking647]

9. the fact the fed hasnt shut wells fargo is enough for me to agree with warren

we need a fed chairman with teeth to rein in the banks

[ancianita]

10. She's right to see the political tools working to suck up more trillions to their dark money donors.

Our debt to GDP ratio is lower than that of a number of OECD nations; theirs hover around 100% and ours is around 60%. Probably because Repubs' donors don't want to invest in infrastructure but do like throwing our tax money at defense and other subcontractors in wars and disasters that profit the few at the expense of the many.

60%.

[rickyhall]

11. Regulations way too loose. Deregulation cause of 2008 shellacking. Banks regulated for a reason.

[Evolve Dammit]

12. Liz has the experience and knows what she's taliking about. Would love to talk to her candidly. n/t