Democratic Senators Sheldon Whitehouse and Jeff Merkley came out against 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.
That person is not Jerome Powell."Key Fed official Randal Quarles plans to resign, creating another vacancy for Biden to fill However, Powell has taken steps to address the climate crisis, even if he hasn't moved as aggressively as progressives would like. Read MoreLate last year, the Powell-led Fed joined an international network of global financial regulators focused on climate change.
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