The slate of nominees, said one campaigner, is 'critical to the success of the Federal Reserve and the role it plays to protect peoples' interests.'
The slate of nominees, said one campaigner, is"critical to the success of the Federal Reserve and the role it plays to protect peoples' interests."Progressive groups are urging the U.S. Senate to confirm three of President Joe Biden's nominees for the Federal Reserve Board, arguing that the highly qualified candidates are needed to help address the needs of workers and the climate emergency.
Raskin is a former Fed board member and deputy Treasury Secretary. She's also the wife of Democratic Rep. Jamie Raskin of Maryland. Cook and Jefferson are both economists. If confirmed, Cook, who served on former President Barack Obama’s Council of Economic Advisers, would be the first Black woman on the governing board, while Jefferson, who was previously an economist for the board of governors, would be the fourth Black man to serve on the board.
last week, proved no buffer to resistance from the fossil fuel sector and Republicans. He said that"organized opposition... mostly settled into a focus on Cook and Raskin."The opposition to Raskin concentrates on her policy record of regulating the powerful financial sector and seeking to make the Fed center climate change concerns in its policymaking. However, these aren't weaknesses or flaws in her candidacy, they are strengths.
That line of attack from Toomey and other GOP lawmakers who've recieved significant campaign cash from the fossil fuel industry,Accountable.US, is simply a"parroting" of oil industry concerns that must be rejected by senators as they weigh the nominations. A day before the hearing, nearly 100 progressive groups including Public Citizen and the Open Markets Institute urged senators to confirm Raskin, Cook, and Jefferson.addressed to Senate Banking Committee Chairman Sen.
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