U.S. Fed saying tapering as soon as next month transitions the talk to rate hikes: Earl Davis
Senator Elizabeth Warren, pressing Federal Reserve Chair Jerome Powell on his record on financial regulation, said she wouldn’t support him for a second term as head of the U.S. central bank.
“Your record gives me grave concern,” Warren said Tuesday during a Senate Banking Committee hearing. “‘You have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed and that is why I will oppose your renomination.”
Powell’s term expires in February and Bloomberg News has reported that White House aides are considering recommending the president keep him on the job.
The central bank chief’s record on financial regulation has been one of the sticking points to his renomination, which has some bipartisan support and is largely supported by markets.
Fed Board Governor Lael Brainard is seen as another leading contender for the chair seat. She and Powell have diverged in their views on financial regulation in particular.
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