Warren Praises Brainard, Slams Powell Ahead of Biden Fed Pick
- Democrat says Powell has weakened Fed’s regulatory role
- Biden facing decision on central bank chief later in year
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Senator Elizabeth Warren praised Federal Reserve Governor Lael Brainard on Wednesday for her approach to financial regulation while criticizing Chairman Jerome Powell as too protective of big financial institutions.
“My concern is that over and over he has weakened the regulation here,” she said of Powell on Bloomberg TV’s “Balance of Power with David Westin.” “We need someone who understands and uses the monetary policy tools and the regulatory tools to keep our economy safe. Let’s not forget what happened in 2008.”