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Thu Jan 13, 2022, 07:52 PM

Brainard questioned on inflation, climate risk issues as part of nomination to become Fed's second-i

Source: Washington Post


Federal Reserve governor Lael Brainard probably faces a clear path to becoming the Federal Reserveís second-in-command. But at her confirmation hearing Thursday, lawmakers used Brainardís appearance to press her on a range of increasingly politicized issues, including inflation, climate change and the Fedís own independence.

Brainard, the only Democrat on the Fedís board, was once the top contender to unseat Fed Chair Jerome H. Powell. Many of Brainardís supporters argued that her three-decade career as an economist and policymaker made her a good match for Bidenís economic agenda. Biden decided, though, to renominate Powell as Fed chair and tap Brainard for a more elevated spot on the board, a position that requires additional Senate approval.

Republicans are particularly fixated on Brainardís attention to climate change and its threats to financial stability, as well as her consistent dissents against Fed policies that loosen Wall Street oversight.

Those concerns donít seem likely to jeopardize Brainard confirmation. If anything, lawmakersí primary focus is on how the Fed and its leaders will combat the largest threat to the economic recovery: inflation.

Read more: https://www.msn.com/en-us/money/news/brainard-questioned-on-inflation-climate-risk-issues-as-part-of-nomination-to-become-feds-second-in-command/ar-AASKDqy?li=BBnb7Kz

The GOP is the anti-science party

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