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U.S. Senator Brown says ‘no question’ Biden’s Fed nominees qualified -Breaking

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© Reuters. FILE PHOTO: U.S. FILE PHOTO: U.S. Senator Sherrod Brown (D–OH) addresses a crowd at a Meet and Greet on his “Dignity of Work” tour. Concord, New Hampshire. U.S. February 9, 2019. REUTERS/Elizabeth Frantz/File Photo

NEW YORK (Reuters) – U.S. Senator Sherrod brown said that on Friday he spoke with President Joe Biden about his three most recent nominees for Federal Reserve board.

Brown, a Democrat said that there is “no doubt” these nominated are qualified in a Friday release. “In my meetings with them, they made clear that they understand how our economy works – and who makes it work.”

Brown, the Chairman of Senate Banking Committee said he had met Sarah Bloom Raskin who Biden named Fed Vice Chair of Supervision, along with Philip Jefferson and Lisa Cook who were both nominated to serve as Fed Board Governors.

After some Republicans and business organizations voiced concerns about Fed picks they have made, the statement signals that the Senate is likely to be difficult for them to confirm.

Pat Toomey, the top Republican on the Senate Banking committee, said Thursday he had concerns about the nominees, arguing they did not adequately reflect the nation’s geographic diversity, and taking particular aim at Raskin for her views on climate change risks.

On Thursday, the U.S. Chamber of Commerce wrote a rare letter to legislators raising concerns over Raskin and her requests for federal regulators that transition funding away from the fossil fuel sector.

White House spokesperson Michael Gwin stated Thursday that Raskin will bring unrivalled experience to the job, and has won support from economic experts across all political spectrums.

Brown said Friday the three nominees are “well established” and respected in both the public and private sectors and would bring new perspectives on the “economic issues that matter most to Americans’ lives, like raising wages, increasing job opportunities, and bringing down prices.”

Biden’s nominees will make the Fed Board seven times more diverse in terms of race and gender if confirmed. Next week, the Senate Banking Committee will hold a confirmation hearing for all three nominees. It is scheduled to take place on February 3.

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