Brainard questioned on inflation, climate risk issues as part of nomination to become Fed's second-i
Source: Washington Post
in-command
Federal Reserve governor Lael Brainard probably faces a clear path to becoming the Federal Reserve’s second-in-command. But at her confirmation hearing Thursday, lawmakers used Brainard’s appearance to press her on a range of increasingly politicized issues, including inflation, climate change and the Fed’s own independence.
Brainard, the only Democrat on the Fed’s board, was once the top contender to unseat Fed Chair Jerome H. Powell. Many of Brainard’s supporters argued that her three-decade career as an economist and policymaker made her a good match for Biden’s economic agenda. Biden decided, though, to renominate Powell as Fed chair and tap Brainard for a more elevated spot on the board, a position that requires additional Senate approval.
Republicans are particularly fixated on Brainard’s attention to climate change and its threats to financial stability, as well as her consistent dissents against Fed policies that loosen Wall Street oversight.
Those concerns don’t seem likely to jeopardize Brainard confirmation. If anything, lawmakers’ primary focus is on how the Fed and its leaders will combat the largest threat to the economic recovery: inflation.
Read more: https://www.msn.com/en-us/money/news/brainard-questioned-on-inflation-climate-risk-issues-as-part-of-nomination-to-become-feds-second-in-command/ar-AASKDqy?li=BBnb7Kz
The GOP is the anti-science party