Pat Toomey & Senate Republicans Play Politics With Economic Recovery
February 15, 2022
Senator Pat Toomey is proving that Republicans’ current agenda is based on lies and focused on hurting President Biden’s economic recovery. Toomey and Senate Republicans are willing to delay the confirmation of immensely qualified Fed nominees to score political points, slow our economic recovery down, and advance corporate interests over the interests of the American people.
FACT: More than 100 leading economists agree that all of President Biden’s Fed nominees are eminently qualified and should be confirmed by the Senate without delay.
The Hill: “Biden Fed picks get boost from dozens of economists”
Politico: “Some of the world’s top economic policymakers and scholars, including Ben Bernanke, Alan Blinder, Robert Solow, Maury Obstfeld, Laura Tyson, Betsey Stevenson, Austan Goolsbee and Sandra Black, are urging the Senate Banking Committee to advance all of President Biden’s Federal Reserve nominees in a new letter shared with MM … More than 180 economists signed the letter, which was organized by the Washington Center for Equitable Growth.”
FACT: Biden’s top Fed pick has been fully transparent with the Senate Banking Committee and agreed to one of the strongest ethics agreements in this history of the Federal Reserve.
Wall Street Journal: “Sarah Bloom Raskin, President Biden’s pick to become the Federal Reserve’s top banking regulator, said she would take added steps to assure lawmakers that she would avoid potential conflicts of interest.”
Wall Street Journal: “‘These are the strongest ethics standards ever agreed to by Federal Reserve Board nominees,’ Ms. Warren said, adding that they would prevent conflicts of interest.”
FACT: As Senator Brown pointed out, if Republicans were as concerned as they say they are about inflation, they’d want a full Federal Reserve Board in place. Clearly they’re all talk.
Senator Brown: “If Republicans are as concerned as they say they are about combatting inflation, they should want a full Federal Reserve board in place.”