Senator Elizabeth Warren called on Federal Reserve Chairman Jerome Powell to recuse himself from the Fed’s review of the failure of the Silicon Valley Bank, the biggest collapse of a lender in more than a decade.
“Fed Chair Powell’s actions to allow big banks like Silicon Valley Bank to boost their profits by loading up on risk directly contributed to these bank failures,” Warren, a Democrat from Massachusetts, said in a statement Tuesday. “For the Fed’s inquiry to have credibility, Powell must publicly and immediately recuse himself from this internal review.”
