Biden forfeits 'ability to scapegoat Powell' with Fed pick, liberals say

Biden forfeits 'ability to scapegoat Powell' with Fed pick, liberals say


President Joe Biden settled months of speculation on Monday with a pick to lead the Federal Reserve that left-wing groups said would open the White House to Republican criticism.

Americans for Financial Reform, a group advocating for stricter regulation of Wall Street, among other financial sector reforms, called Biden’s choice of incumbent Chairman Jerome Powell, a Republican who was selected for the Fed’s Board of Governors by former President Barack Obama and elevated to chairman by former President Donald Trump, “a major disappointment.”

“Republicans are not going to give Biden any points for retaining Powell. And, if anything, they’ve lost the ability to scapegoat Powell for an economy that the American people are unhappy with,” said Jeff Hauser, director of the left-leaning

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