Elizabeth Warren to Oppose Fed Chair Powell Renomination, Tells Him ‘You’re a Dangerous Man’

Sen. Elizabeth Warren (D-Mass.) during a Senate hearing on Tuesday told Federal Reserve Chairman Jerome Powell that she will oppose his renomination, citing his many decisions that she claims have weakened the Federal Reserve’s regulatory oversight of large banks. “I came to Washington after the 2008 crash to make sure that nothing like that would ever happen again. Your record gives me grave concern. Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed, and it’s why I will oppose your renomination,” said Warren during the Senate Banking Committee hearing. Warren suggested that Powell’s decision to change the stress test, designed to tell whether or not big banks can survive without a taxpayer bailout, weakened the banking system. Warren said that this became evident during the recent pandemic. “Those banks needed stimulus from the taxpayers, …Read More

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