Biden picked Powell and owns this inflation now
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Biden said that Powell and Brainard 'also share my deep belief that urgent action is needed to address the economic risks posed by climate change, and stay ahead of emerging risks in our financial system.'
Elizabeth Warren , D-Mass., who said in September that the Fed's role in relaxing banking regulations in recent years makes Powell a 'dangerous man'and that she would oppose his renomination
The Fed has been under fire lately following an ethics scandal in which multiple officials engaged in trading stocks at a time when the institution was implementing policies aimed at boosting markets
The White House statement stressed the importance of progressive for the Fed in the years to come
Though Trump nominated Powell, he later fired withering criticism at the Fed chief when the central bank raised interest rates seven times in 2017 and 2018