Senator Opposes Dangerous Powell for Second Term

Senator Elizabeth Warren said that she would not support Federal Reserve Chair Jerome Powell for a second term as head of the U.S. central bank.
Warren said, Tuesday, that Powell’s record gives her grave concern. Warren’s statement was during a Senate Banking Committee hearing.
The Senator argues that Powell acted to make the U. S. banking system less safe, and that makes him a dangerous man to head up the Fed and that is why she will oppose his renomination.
Powell’s current term will expire in February and White House aides are considering recommending President Joe Biden keep him in his post.
Janet Yellen, Treasury Secretary, who testified beside Powell at the hearing, told White House’s senior advisers last August that she supports reappointing Powell as chair. Her support is a key voice in the White House’s deliberation and discussion process.