The Federal Reserve’s role is not to advance certain environmental policies, and is certainly not to bias the allocation of capital against entire legal industries,” the Members added.
#Sarah bloom raskin climate change full
The primary responsibilities of the Federal Reserve are to promote full employment and stable prices, and to ensure the safety and soundness of the financial system. “The role of the Federal Reserve is not to dictate consumer demand, nor is it to determine which industries are worthy of capital and which should be starved of financing. The Federal Reserve’s responsibility to ensure safety and soundness is critically important, though attempts to weaponize this role to satisfy certain partisan environmental goals threatens to compromise the Board’s independence and permit financial regulators to pick winners and losers in the marketplace,” the Members wrote.
“We write to you to with growing concern about the politicization of the Federal Reserve and sustained efforts to redefine its mandate, especially regarding climate change and the allocation of capital. Key Points President Joe Biden will nominate Sarah Bloom Raskin to be the Federal Reserve’s next vice chair for supervision, a powerful regulatory role. (Ken Cedeno/Bloomberg News) Sarah Bloom Raskin withdrew from consideration as the Federal Reserve’s banking cop on Tuesday, the White House confirmed, after. Kate Davidson of Politico broke the news of this letter in Politico’s Morning Money newsletter this morning. Sarah Bloom Raskin SUPPORT OUR NONPROFIT NEWSROOM Cindy Liu Staff APWith record-shattering heat levels and swaths of raging wildfires across various states, climate change. Raskin’s radical statements on climate finance. On Tuesday, in the face of what she described as relentless attacks by special interests who oppose her frank acknowledgment that climate change could pose a threat to economic stability. Congressman Andy Barr (KY-06), Congressman Bill Huizenga (MI-02), Congressman French Hill (AR-02), and Congressman Blaine Luetkemeyer (MO-03) sent a letter to Federal Reserve Chairman Jerome Powell detailing their concerns and Ms. American attorney and regulator Sarah Bloom Raskins withdraws nomination from Federal board due to row over her climate change stance.
Washington, D.C.- Four senior members of the House Financial Services Committee are sounding the alarm on the nomination of Sarah Bloom Raskin to Vice-Chair of Supervision of the Federal Reserve. The letter from Barr and three other senior Republicans on the House Financial Services Committee comes after the nomination of Sarah Bloom Raskin to the Vice-Chair of Supervision for the Federal Reserve.
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