Two Senate Democrats urge Biden not to keep Jerome Powell at the helm of the Fed
Democratic Senators Sheldon Whitehouse and Jeff Merkley on Friday came out against to keeping Jerome Powell at the helm of the Federal Reserve due to what they see as his insufficient response to the climate crisis.
The opposition further complicates the imminent decision by President Joe Biden on whether to renominate Powell four another four years term to lead one of the world's most powerful institutions. Senator Elizabeth Warren warned that Powell is a "dangerous man" to lead the Fed because of his track record on Wall Street regulation.
By contrast, Whitehouse and Merkley focused on Powell's climate resume, arguing that at first he "ignored" climate change and then later resisted calls for the Fed to use its tools to fight it.
"Jerome Powell refuses to recognize climate change as an urgent and systemic economic threat," the lawmakers wrote. "President Biden must appoint a Fed Chair who will ensure the Fed is fulfilling its mandate to safeguard our financial system and shares the Administration's view that fighting climate change is the responsibility of every policymaker. That person is not Jerome Powell."
However, Powell has taken steps to address the climate crisis, even if he hasn't moved as aggressively as progressives would like.
Late last year, the Powell-led Fed joined an international network of global financial regulators focused on climate change. In June, Powell said the climate crisis poses "profound challenges for the global economy and certainly the financial system."
Neither the White House nor the Fed were immediately available to respond to the criticism.
Despite the concerns voiced by some progressives, analysts say Powell would have more than enough support in the Senate, including from many Republicans, to get confirmed to another term. His term expires in February and the White House has said Biden plans to make a decision by Thanksgiving.
两名参议院民主党人敦促拜登不要让杰罗姆鲍威尔掌舵美联储
民主党参议员谢尔顿怀特豪斯和杰夫默克利周五反对让杰罗姆鲍威尔掌舵美联储，因为他们认为他对气候危机的反应不足。
反对派使乔·拜登总统即将做出的决定更加复杂，即是否再次提名鲍威尔连任四年，以领导世界上最强大的机构之一。参议员伊丽莎白沃伦警告说，由于鲍威尔在华尔街监管方面的记录，他是领导美联储的“危险人物”。
相比之下，怀特豪斯和默克利专注于鲍威尔的气候履历，认为他起初“忽视”了气候变化，后来又拒绝了要求美联储使用其工具来应对气候变化的呼吁。
“杰罗姆鲍威尔拒绝承认气候变化是一种紧迫的系统性经济威胁，”立法者写道。 “拜登总统必须任命一位美联储主席，以确保美联储履行其保护金融体系的职责，并同意政府的观点，即应对气候变化是每个政策制定者的责任。那个人不是杰罗姆鲍威尔。”
然而，鲍威尔已采取措施解决气候危机，即使他没有像进步人士希望的那样积极行动。
去年年底，鲍威尔领导的美联储加入了一个专注于气候变化的全球金融监管机构国际网络。鲍威尔在 6 月表示，气候危机“对全球经济，当然对金融体系构成了深刻挑战”。
白宫和美联储都没有立即回应批评。
尽管一些进步人士表达了担忧，但分析人士表示，鲍威尔将在参议院获得足够多的支持，包括来自许多共和党人的支持，以确保连任。他的任期将于 2 月到期，白宫表示拜登计划在感恩节前做出决定。
