for those reasons, she's out
Sen. Elizabeth Warren (D-Mass.) has once again indicated her opposition to Jerome Powell's renomination for chair of the Federal Reserve, an annoucement arriving on the heels of President Biden's decision to tap the Republican for another term. The progressive Democrat also said she plans to vote against Powell in the Senate.
"It's no secret I oppose Chair Jerome Powell's renomination, and I will vote against him," wrote Warren in a statement released on Twitter. "Powell's failures on regulation, climate, and ethics make the still-vacant position of Vice Chair of Supervision critically important." Warren did note, however, that she supports Biden's nomination of current Fed Governor Lael Brainard to Vice Chair.
Biden announced Monday morning his decision to renominate Powell, saying the current chair will "focus on keeping inflation low, prices stable, and delivering full employment" to "make our economy stronger than ever before." Warren, a member of the Senate Banking Committee, has long indicated she would vote against Powell's possible second term, calling him a "dangerous man."
"As we move forward," Warren wrote Monday, "I will use every oversight tool within reach to make sure that the Federal Reserve works for American families and not Wall Street."