Posted on 10/18/2021 9:35:17 AM PDT by RandFan
Republicans are signaling that they will help bail out Jerome Powell if he's renominated to lead the Federal Reserve amid opposition and skepticism from progressives.
The burgeoning fight over who will lead the nation’s central bank comes as Powell’s four-year term runs out in February. Fed watchers anticipate President Biden could make an announcement in late October or November in order to set up an early 2022 confirmation vote for another four-year term.
Powell has strong backers, including Treasury Secretary Janet Yellen. But he’s facing a curveball in the form of a stock trading scandal that has poured fuel on calls from progressives for Biden to shake up the culture at the Federal Reserve by changing its top leadership.
ADVERTISEMENT GOP senators, in part driven by concern that a Powell replacement would be more liberal, are making it clear they will help put up the voters to confirm him to a second term.
“Most of the people I’ve talked to on the Republican side support his renomination. I can’t think of one person who opposes him,” said Sen. John Kennedy (R-La.).
Sen. Chuck Grassley (R-Iowa) said he would support Powell and that he thought there would be enough GOP votes to overcome any Democratic defectors.
“The reason I would support him — it isn’t because I agree with the way he’s handled the inflation issue,” Grassley said, “but the alternative would be much worse.”
Though nominations only require a simple majority to get confirmed by the Senate, Powell will need help from Republicans as there are likely to be Democratic defections in the evenly split chamber.
(Excerpt) Read more at thehill.com ...
Better the crook ya know, eh?
This is true.
If it was up to Warren it’d be someone much worse I guess
The two people caught up in the stock trading were Fed bank presidents, Rosengren in Boston and Kaplan in Dallas. Each Fed bank hires their own presidents so neither one is a presidential appointee. Biden only appoints members of the Fed board.
The Progressive’s especially Yellen hate him. I think that is an argument in his favor.
The Progressives hate him. Yellen called him the most dangerous man at the Fed
I think we should stop the knee jerk angst and think about this one for a change
The pathetic senate GOP can usually be counted on to help the Dems. They do more for them than the do for us.
I’ve seen enough of this walking blood sucker to realize he’s a perfect match for China Mitch and his congressional thieves. Please, sell the virtues of this money man to someone else.
Obama will decide.
It's not like that was a profitable trade. He sold early and locked in the plandemic losses instead of waiting for it to recover.
well of course they love Jerome. after fake wmd, they hated Colin.
I think that’s the theory. The one Biden/Warren wants is a far-left nut job.
Actually, they do more against us than the Democrats. That’s their whole purpose.
Ever watch someone try to break up a fight and grab a person who has a right to be pissed, and prevent them from punching someone out who deserves it? That’s what the GOP does to us, only they’re not doing it to keep the peace. They do it because they’re on the side of the person who deserves to be punched out, while telling us “I know how you feel, and I’m with you, bro, but this is not the way to handle it”.
They GOP are the Left’s firewall against us. They make sure we never land a glove on them.
The GOP is a joke. A very sad one.
You have their number, the primary purpose the GOP since 1989 has been to block the citizens from stopping the importation of a permanent Democrat majority.
He was confirmed by the Senate in 2018 after being nominated by Trump. He has remained the Fed Chair since Biden took office, but the headline about him being “Biden’s Chair” is not really true, he’s just finishing up his term under Biden.
I might be wrong, but the far-left hates him solely because he’s a white male. They are so crazed with identity politics that they would pass on a nominee who holds similar values to theirs if said nominee was one of those privileged ol’ white males.
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