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The top Republican on the Senate Banking Committee sharply criticized Federal Reserve Chairman Jerome Powell on Tuesday for tolerating what he sees as the politicization of the country’s central bank.
In an interview with Bloomberg News, Senator Pat Toomey of Pennsylvania, unlike many other Republicans, did not back Powell for another term as Fed chairman. His criticism comes as President Joe Biden deliberates whether to re-appoint Powell or pick someone like Democratic Fed Governor Lael Brainard, the favorite of some outside liberal groups.
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