Warren Presses Powell on Race Gaps in Possible Biden-Era Preview
- Low rates aren’t enough help, Massachusetts Democrat says
- Warren is a potential Treasury chief in a Biden administration
Senator Elizabeth Warren is seen speaking on a monitor during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Sept 24.
Photographer: Drew Angerer/Getty Images
Senator Elizabeth Warren on Thursday pressed Federal Reserve Chair Jerome Powell to use a broader range of tools to lessen racial economic disparities, in a potential preview of the pressures that could hit the central bank if Joe Biden becomes president.
During a Senate Banking Committee hearing Thursday, the Massachusetts Democrat asked Powell what the Fed is doing to reduce inequality along economic lines in the U.S. Powell pointed to the central bank’s new policy framework, which emphasizes an inclusive goal of maximum employment and said policy makers have been “outspoken on our commitment to diversity and racial justice.”