Several Capitol Hill lawmakers, all of them Democrats, including members of the extreme liberal “Squad”, are pushing to replace Federal Reserve Chairman Jerome Powell (photo above).
The Democrats, led by Congresswoman Alexandria Ocasio-Cortez, say they want a leader focused on “eliminating climate risk and advancing racial and economic justice.” The Federal Reserve does not typically deal with racial or social or climate-related issues.
Powell’s term is up in February 2022, and the Biden White House has not yet indicated whether he’ll be reappointed.
The group opposed to Powell, includes New York Congressman Mondaire Jones, Michigan Congresswoman Rashida Tlaib, Massachusetts Congresswoman Ayanna Pressley, and Illinois Congressman Chuy Garcia.
Federal Reserve Chair Jerome Powell removes his glasses as he listens to a question during a news conference after the Federal Open Market Committee meeting, Wednesday, Dec. 11, 2019, in Washington. The Federal Reserve is leaving its benchmark interest rate alone and signaling that it expects to keep low rates unchanged through next year. (AP Photo/Jacquelyn Martin) Aug 31st 2021