Stock Groups

U.S. Senator Warren says she will oppose Powell renomination but supports Brainard -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Senator Elizabeth Warren (D.MA) greeting Jerome Powell, Federal Reserve Chairman, as they discuss the CARES Act at the Hart Senate Office Building, Washington, DC, U.S.A, September 28, 2021. K

NEW YORK (Reuters) – U.S. New York (Reuters) Senator Elizabeth Warren reaffirmed her opposition to Jerome Powell being renominated as Federal Reserve Chair. She stated on Monday that President Joe Biden has tapped Powell for a second term.

Warren stated in a statement she would support Biden’s nomination for Fed Governor Lael Mindard to vice chair. She also called the Fed board’s remaining vice chair position of supervision “critically crucial.”

The senator had previously described Powell as a “dangerous person” and criticised him for not taking enough action on regulation, climate change, and the ethics scandal surrounding trading by Fed officials. Warren’s vote against Powell is unlikely to be sufficient to end the second term of the Fed chair who enjoys bipartisan support from the Senate.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]