Elizabeth Warren won’t support Fed’s Jerome Powell

Elizabeth Warren says she will oppose the nomination of Jerome Powell to be chair of the Federal Reserve.

“I’m against appointing [Powell] chairman. I’m against Jerome Powell becoming chairman,” Warren told Charlie Rose Wednesday morning.

Warren joins a group of a few Democratic Senate lawmakers who have announced their opposition to Powell, who has been nominated by President Donald Trump. Those Democrats include Sen. Ed Markey of Massachusetts and Sen. Jeff Merkley of Oregon.

Sen. John C. Barrasso, R-Wyo., the ranking member of the Senate Banking Committee, told CNN Business’ Siobhan Hughes that he wasn’t familiar with Warren’s opposition.

This is Warren’s second time opposing a Trump nomination.

In January 2017, she was among the Democrats who announced their opposition to Elaine L. Chao, Trump’s choice to be labor secretary.

Democratic senators Sanders and Warren have also criticized Powell’s confirmation hearing in December, citing his lack of experience running a large agency like the Fed.

A Fed spokeswoman declined to comment.

Warren also told Rose that she had asked Powell to withdraw his name during the confirmation hearing, but he declined to do so.

“I think Mr. Powell learned that it’s better to be dead than poor,” Warren told Rose.

Powell, a banker with a reputation for being a strict budget hawk, is likely to be one of the last major decisions on the Trump’s first full year in office.

Leave a Comment