'We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice.' Progressive Democrats are calling on Biden to replace Jerome Powell as Federal Reserve chairman.
"We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice," the lawmakers said in a statement Tuesday morning.In addition to Ocasio-Cortez, the statement was issued Reps. Rashida Tlaib of Michigan, Ayanna Pressley of Massachusetts, Mondaire Jones of New York and Chuy Garcia of Illinois, all members of the Congressional Progressive Caucus.
Although the Democrats in the statement credited the Powell-led Fed with making changes to how it approaches its goal of full employment, they voiced concern over his track record on the climate crisis and regulation."Under his leadership the Federal Reserve has taken very little action to mitigate the risk climate change poses to our financial system," the lawmakers said in the statement.
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