Fed Nominees Face Fierce GOP Attack Over Views, Credentials
- Biden picks are probed on inflation, bank climate change rules
- Third nominee, Jefferson, looks set for bipartisan support
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Two of President Joe Biden’s nominees to the Federal Reserve face a likely tough battle for confirmation after Republicans questioned their commitment to price stability and to keeping the Fed away from climate rules.
During heated testimony Thursday, Sarah Bloom Raskin was pushed to defend past remarks about the role of regulation in mitigating climate risk and Lisa Cook -- a Ph.D. economist and the first Black woman nominated to the Fed -- to defend her knowledge of monetary policy and how she would respond to inflation.