Two Democrats Oppose Powell for Fed Chair, Citing Climate Change

Two liberal Democratic senators said Friday they would oppose a second term for Federal Reserve Chairman Jerome Powell because they want the central bank to play a more aggressive role addressing climate change.

Sens. Jeff Merkley (D., Ore.) and Sheldon Whitehouse (D., R.I.) issued a statement calling on President Biden to appoint a Fed chair “who will ensure the Fed…shares the administration’s view that fighting climate change is the responsibility of every policy maker. That person is not Jerome Powell.”