Next Fed Head Should Meet the Bernie Sanders/Elizabeth Warren Standard
What, "Crash" Summers ain't good enough?
Next Fed Head Should Meet the Bernie Sanders/Elizabeth Warren Standard
No presidential appointment, no Senate confirmation, matters more than the one that will soon come for the post of chairman of the Federal Reserve...
Yet, for the most part, official Washington is on autopilot, preparing for the replacement of outgoing Federal Reserve chairman Ben Bernanke with another predictable insider—perhaps even the ultimate predictable insider: former Treasury Secretary Larry Summers.
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But, no matter who the nominee is, Sanders and Warren argue this week in a Huffington Post column that “the next Fed chair will have an opportunity to get our economy back on track and to help rebuild America’s middle class. But that will require the right temperament and a willingness to take on Wall Street CEOs when necessary. It is critical that the next Fed chair make a genuine, long-term commitment to supporting those who don’t have armies of lobbyists and lawyers to advance their interests in Washington—working and middle-class families.”
To that end, the senators have developed a set of questions that need to be answered by whomever is chosen to replace Bernanke...
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