NEW: Banking Chairman Sherrod Brown tells me Powell's comments on the next vice chairman of supervision taking the lead on regulation is "an encouraging statement"
bloomberg.com/news/articles/…
bloomberg.com/news/articles/…
Brown has had his differences with Powell on climate and regulation, but has also praised him for empowering Lael Brainard on the Community Reinvestment Act.
Neither Brown nor Warren has endorsed Powell for another term.
Tester told me earlier he talked up Powell renom to Klain
Neither Brown nor Warren has endorsed Powell for another term.
Tester told me earlier he talked up Powell renom to Klain
The broader context here is Bloomberg has reported WH considering renominating Powell with Brainard as VCS. Warren, however, has noted that the chair has the power to set the agenda; Fed chairs can effectively veto what they don't like and control the staff to boot.
Not sure if this would placate Warren or not.
Meanwhile, Toomey yesterday to me ripped Powell on tolerating politicization of the Fed and for still buying $120B/month bonds and sees bubbles forming all over.
One thing Toomey talked up about Powell is his dereg moves.
Meanwhile, Toomey yesterday to me ripped Powell on tolerating politicization of the Fed and for still buying $120B/month bonds and sees bubbles forming all over.
One thing Toomey talked up about Powell is his dereg moves.
But Powell doesn't necessarily need Toomey to get confirmed. Brown though holds the gavel, Warren has huge sway among the party faithful on these issues and Biden gets to make the pick.
A bunch of Rs and Ds have told me they would back Powell if Biden picks him.
A bunch of Rs and Ds have told me they would back Powell if Biden picks him.
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