Reps. Alexandria Ocasio-Cortez, Rashida Tlaib, Ayanna Pressley, Mondaire Jones, and Chuy Garcia urged Biden to"reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice" in a Tuesday statement. And while Powell helped the Fed make"positive changes" during his nearly four-year tenure, replacing him is key to a more effective central bank, the group added.
The progressives also pushed back against Powell's stance on bank regulation. The Fed chair"substantially weakened" several of the reforms born out of the financial crisis, even while millions of Americans are still rebounding from the Great, the lawmakers said. Weakening the regulations made to avoid another 2008-like meltdown risks Americans' livelihoods, they added.
It's not just lawmakers hitting back at Powell's record. A collection of 22 economic, labor, and racial justice organizationsurging him to consider a Fed chair who better prioritizes climate change, full employment, and fighting systemic racism.
Plop! No piensa
good luck