Today the U.S. Senate voted 80-19 to give Jerome Powell another four-run term as the Chair of the Federal Reserve, who was first appointed by President Trump in 2017.
The previous chair was Janet Yellen, who is the current U.S. Treasurer.
According to Yahoo News, the 19 who voted against Powell’s reelection were mostly Republicans, with some Democrats peppered in:
Sens. John Boozman (R-Ark.), Mike Braun (R-Ind.), Tom Cotton (R-Ark.), Ted Cruz (R-Texas), Josh Hawley (R-Mo.), Ron Johnson (R-Wis.), Mike Lee (R-Utah), Ed Markey (D-Mass.), Bob Menendez (D-N.J.), Jeff Merkley (D-Ore.), Jon Ossoff (D-Ga.), Rand Paul (R-Ky.), Marco Rubio (R-Fla.), Bernie Sanders (I-Vt.), Rick Scott (R-Fla.), Richard Shelby (R-Ala.), Dan Sullivan (R-Alaska), Elizabeth Warren (D-Mass.) and Roger Wicker (R-Miss.) voted against Powell. Sen. Pat Toomey (R-Pa.) did not vote.
Patrick Toomey, the ranking Republican on the Senate Banking Committee, said in a statement:
Chairman Powell’s leadership has helped spur economic growth while preserving the best capitalized banking system in American history.
I have made it clear that tackling inflation is my top domestic priority. So I am pleased to see the Senate take a step forward on my agenda to get inflation under control by confirming my nominees to the Fed,” he said in a statement.
The Federal Reserve plays a primary role in fighting inflation, and these well-qualified members of the board will bring the skill and knowledge needed at this critical time for our economy and families across the country.
President Biden said, also referring to Lisa Cook and Philip Jefferson’s election to the Fed’s board of governors
AUTHOR COMMENTARY
He that oppresseth the poor to increase his riches, and he that giveth to the rich, shall surely come to want.
Proverbs 22:16
All these scumbags in the Fed, and those that coddle up to him, will have their time: just be patient.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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