November 22, 2021

Warren Statement on Federal Reserve Nominations

WASHINGTON, D.C. — Today, Senator Elizabeth Warren (D-Mass.) released the following statement on Jerome Powell, Lael Brainard, and the vacant Vice Chair of Supervision position:

“It’s no secret I oppose Chair Jerome Powell’s renomination, and I will vote against him. I will support the President’s nomination of Lael Brainard as Vice Chair. Powell’s failures on regulation, climate, and ethics make the still-vacant position of Vice Chair of Supervision critically important. This position must be filled by a strong regulator with a proven track record of tough and effective enforcement - and it needs to be done quickly.  

“American taxpayers have bailed out large financial institutions enough times. It’s the job of the Federal Reserve to ensure large financial institutions do not put our economy at risk. As we move forward, I will use every oversight tool within reach to make sure that the Federal Reserve works for American families and not Wall Street.”