AOC, Pressley, and Tlaib ‘urge’ Biden to replace Fed Chairman with someone willing to tackle ‘climate change’

Not all of the Federal Reserve’s recent money creation has been enough, according to some US bureaucrats, as three politicians from the House Financial Services Committee urge US President Biden to replace Fed Chairman Jerome Powell with someone who s ‘will deal with’ climate risk. “

AOC, Tlaib, Pressley: “Climate change is a warning of potential catastrophic and irreversible damage”

According to three American representatives, Alexandria Ocasio-Cortez (AOC), Rashida Tlaib and Ayanna Pressley, the leadership of the Federal Reserve is lacking. Despite the massive amounts of quantitative easing (QE) tactics and a cut benchmark rate to zero, the three politician members of the House Financial Services Committee want more.

Speaking to Politico, representatives otherwise known as “Squad” explained that new leadership is needed when it comes to the Federal Reserve. There is no doubt that the Fed’s monetary hike in 2020 eclipsed two centuries of USD creation and this monetary easing continued into 2021.

AOC, Tlaib, and Pressley think it’s just not enough. “At a time when the Intergovernmental Panel on Climate Change warns of the potential catastrophic and irreversible damage inflicted by climate change, we need a leader at the helm who will take bold and decisive action to eliminate climate risk, ”the group of politicians said. Politico said. Progressive Democrat AOC further said of Jerome Powell:

Under his leadership, the Federal Reserve has taken very little action to mitigate the risk climate change poses to our financial system.

AOC, Tlaib, Pressley: “We need a Fed chairman who is committed to achieving these goals”

The three members of the House Financial Services Committee are well known for promoting concepts such as Modern Monetary Theory (MMT) and Universal Basic Income (UBI). The three bureaucrats insist that a new Fed chairman is needed to “eliminate” climate risk.

Meanwhile, billions of dollars later and a massive push to get people vaccinated, Covid-19 is far from eliminated and it is highly likely that it will never be taken out of society. However, the use of stimulus measures to tackle climate change is also very important, the three politicians stressed in their statements.

“The weakening of financial regulations specifically created to prevent such a catastrophe from happening again puts the livelihoods of Americans across the country at risk,” say AOC, Tlaib and Pressley. “To move forward with a whole-of-government approach that eliminates climate risk while making our financial system more secure, we need a [Fed chair] who is committed to achieving these goals.

AOC, Tlaib and Pressley, however, did not discuss how Americans are unhappy with rising inflation and how monetary easing may have triggered another massive bubble. In fact, the three bureaucrats are a minority as most politicians are happy with Jerome Powell’s decision-making when it comes to the US economy. Many analysts and economists are quite certain that the monetary stimulus that has taken place over the past 18 months has made Wall Street and the stock market very happy.

What do you think of politicians AOC, Tlaib and Pressley urging Biden to get new leadership for the Federal Reserve? Let us know what you think of this topic in the comments section below.

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