Elizabeth Warren, the progressive Democratic senator from Massachusetts, said on Tuesday she would oppose Jay Powell’s renomination as chair of the Federal Reserve, calling him a “dangerous man” to lead the US central bank.
Warren’s opposition to a second term in office for Powell deals a significant blow to his hopes of remaining at the helm of the Fed, because it will make it more difficult for President Joe Biden to renominate him without facing a backlash from the left of the Democratic party.
Powell’s current term ends in February 2022 and Biden will have to make a decision soon.
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