Senate Republicans have no problem with Joe Biden bringing back Fed Chairman Jerome Powell for a 2nd 4-year term. But they do have a major problem with want Biden wants to do with the 3 other vacancies.
Biden is planning another move to appease Bernie Sanders, Elizabeth Warren, AOC, and the other progressives in the Democrat party, by nominating a trio of radicals for the Federal Reserve Board.
“It’s forcing their agenda, and their activist policies, and their socialist polices, into the banking system. That’s the goal”— former speaker of the Texas House Dennis Bonnen
That agenda would include the push for so-called ‘climate change’. Once in power, the Fed would be used as a weapon to help Democrats kill the oil and gas industry, while also aiding their push for ‘equity’ and ‘social justice’.
“They want to go over there and turn the Fed into an activist organization, Example being, telling banks that they can’t do financing for anyone who is not in clean energy. Well, that is not the role of a Fed Vice Chair, or the Fed as a whole.”— Bonnen told KTRH
So the question now is, will the Senate Republicans be able to stop it? “Great question”
“What it’s really going to come down to is, will the Republican Senators stick together, and pick-up at least one Democrat Senator? Which has been a successful formula, we’ve already seen that this year, but it’s a very hard one to execute.”— Bonnen
The fight is expected to start early next year.