Economics
Warren Opposes ‘Dangerous’ Powell for Second Term as Fed Chair
- Senator’s opposition complicates Biden calculus on Fed choice
- Powell’s tenure at helm of central bank expires in February
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Senator Elizabeth Warren, pressing Federal Reserve Chair Jerome Powell on his record on financial regulation, said she wouldn’t support him for a second term as head of the U.S. central bank -- the highest-profile Democrat with a say on his confirmation to come out against him.
“Your record gives me grave concern,” the Massachusetts Democrat said Tuesday during a Senate Banking Committee hearing. “You have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed and that is why I will oppose your renomination.”