Today so far
That’s all from me here on the West Coast. Here are some of the biggest news moments of the day:
- Five more political operatives have been subpoenaed by the House select committee investigating the 6 January Capitol attack. The chairman of the select committee, Bennie Thompson, said the subpoenas aimed to uncover “who organized, planned, paid for, and received funds related to those events.”
- A circuit court judge in Lake County, Florida, cleared the charges against four Black men accused of rape in 1949. The then teenagers were accused of raping a white teenager at gunpoint and were pardoned by Ron DeSantis in 2019.
- An eight-month investigation by the New York assembly backs up the state attorney general’s misconduct allegations against Andrew Cuomo. The 46-page report also detailed Cuomo’s use of state workers and other public resources to write, publish and promote his memoir.
- At least three Senate progressives have indicated they will oppose Joe Biden’s nomination of Jerome Powell as chair of the Federal Reserve board of governors. Democratic Senators Elizabeth Warren, Jeff Merkley and Sheldon Whitehouse have said they will vote against Powell’s nomination, but the chairman appears to have enough Republican support to overcome progressive opposition.
- Sean Parnell, a Republican Senate candidate in Pennsylvania who received Donald Trump’s endorsement, is dropping out of the race. Parnell’s announcement came after the candidate lost a custody battle with his estranged wife, Laurie Snell, who has accused him of physical and verbal abuse.
Updated
Roger Stone and Alex Jones among five to receive Capitol attack subpoenas
The House select committee investigating the Capitol attack on Monday issued new subpoenas to five political operatives associated with Donald Trump. They are:
- Roger Stone, a veteran political operative and Trump advisor who was pardoned by the former president in 2020
- Alex Jones, a far-right talk show host
- Dustin Stockton and Jennifer Lawrence, a pro-Trump husband and wife pair
- Taylor Budowich, a spokesman for Donald Trump
The chairman of the select committee, Bennie Thompson, said the subpoenas aimed to uncover “who organized, planned, paid for, and received funds related to those events, as well as what communications organizers had with officials in the White House and Congress.”
Steve Bannon a former strategist for Trump has refused to cooperate with his subpoena and was indicted for contempt of congress earlier this month. And last month Trump sued to stop the select committee from receiving White House documents from the National Archives, over executive privilege claims.
Read the Guardian’s coverage of the newest subpoenas here.
An eight-month investigation by the New York Assembly has backed up much of what a previous inquest by the state attorney general that revealed that the former New York governor sexually harassed at least 11 women.
In addition to the sexual misconduct, the 46-page report also detailed Cuomo’s use of state workers and other public resources to write, publish and promote his memoir about his handling of the coronavirus pandemic, which could be an ethical violation.
The report also revisits Cuomo’s dealings with nursing homes early in the pandemic. It found that he, “was not fully transparent regarding the number of nursing home residents who died as a result of Covid-19,” the report stated.
Cuomo’s attorney argues that the newest report from the assembly just regurgitates what the attorney general said in an investigation Cuomo’s attorney described as “flawed” to the New York Times.
The read the full report alongside the New York Times’ coverage is here.
The state of Florida has admitted its justice system failed in the case of four men who were accused of rape as teenagers in the 1940s. The then-teenagers, who became known as the Groveland Four, were accused of raping a white teenager at gunpoint. The accusation led to a violent manhunt during which one of the accused was killed and several Black people injured in Groveland, a rural Florida town.
The four men received a posthumous pardon from Governor Ron DeSantis in 2019. And today, a circuit court judge in Lake County cleared the charges against the men and issuing a ruling that effectively exonerated them of the crime.
“We are blessed. I hope that this is a start because a lot of people didn’t get this opportunity. A lot of families didn’t get this opportunity. Maybe they will,” said Aaron Newson, the nephew of Ernest Thomas, one of the Groveland Four. “This country needs to come together.”
The Guardian has a full story of the case’s dismissal here.
Updated
Joe Biden plans to run for re-election in 2024. Jen Psaki, the White House spokesperson told reporters earlier today. As Biden flew to Fort Bragg for an early Thanksgiving celebration with military members, Psaki said, “He is. That’s his intention.”
Biden’s intentions remained unclear as he faced a dip in his approval ratings and his party suffered hard losses in Virginia’s recent state election.
Read the rest of Reuter’s report on the announcement here.
Updated
Brit Awards to scrap gendered awards categories
The organizers of the Brit Awards say they are going to do away with gender-specific categories and will instead introduce the British and international artist of the year, which will replace the respective male and female awards for each category.
This excerpt from the Guardian’s coverage of the shake-up puts this move into context with the Brit Awards’ own history as well as changes across the industry:
At 2021’s ceremony, the non-binary British pop singer Sam Smith was left out of the gendered categories for solo artist. They responded: “I look forward to a time where awards shows can be reflective of the society we live in. Let’s celebrate everybody, regardless of gender, race, age, ability, sexuality and class.”
The MTV VMA awards have been gender neutral since 2017. The Television Critics Association awards in the US also uses mixed-gender categories, and literary prizes have long been primarily mixed. This year’s Emmy awards acknowledged non-binary actors by allowing them to be named a “performer” rather than an actor or actress, though they would still ultimately appear in a gendered category.
The 2022 Brit Awards ceremony will be held on 8 February at London’s O2 Arena.
Read the rest of Ben Beaumont-Thomas’ article here.
Updated
Hello, blog readers. I’m Abené Clayton blogging from Los Angeles. Here’s one of the national politics stories on my radar.
Lucy McBath will be running for congress in a nearby district after Georgia Republicans redrew her district map. McBath currently represents the state’s sixth district, which was recently “drawn specifically to win back one of the two suburban Atlanta US House seats that Republicans lost during Donald Trump’s presidency”, according to the Atlanta Journal-Constitution.
So McBath will be moving to the more suburban seventh district where she will run against Democratic incumbent Carolyn Bourdeaux.
“As a Black woman, too often I’ve been told to stand down. I refuse to let our voices be silenced in Congress. And people in that district need a voice...It’s not about power to me. It’s about keeping promises,” McBath told the Atlanta newspaper.
Brian Kemp, Georgia’s governor is expected to sign off on the newly drawn district maps soon.
Read the rest of the Atlanta Journal-Constitution’s coverage of McBath here.
Updated
Today so far
That’s it from me today. My west coast colleague, Abené Clayton, will take over the blog for the next few hours.
Here’s where the day stands so far:
- Joe Biden announced he will renominate Jerome Powell as chair of the Federal Reserve board of governors. The president will also nominate Dr Lael Brainard to serve as vice-chair of the Fed board, on which she has served since 2014.
- At least three Senate progressives have indicated they will oppose Powell’s renomination. Democratic Senators Elizabeth Warren, Jeff Merkley and Sheldon Whitehouse have said they will vote against Powell’s nomination, but the chairman appears to have enough Republican support to overcome progressive opposition.
- Biden pushed back against the progressive criticism of Powell’s renomination, saying the Fed needs “stability” as the US economy continues to recover from the coronavirus pandemic. “At this moment of both enormous potential and enormous uncertainty for our economy, we need stability and independence at the Federal Reserve,” Biden said at an event with Powell and Brainard.
- Biden’s social spending package faces challenges in the Senate, after the House passed the Build Back Better Act on Friday. Senate Democrats are expected to make changes to the House version of the bill in the weeks to come, with the hopes of winning the support of centrists like Joe Manchin and Kyrsten Sinema.
- Sean Parnell, a Republican Senate candidate in Pennsylvania who received Donald Trump’s endorsement, is dropping out of the race. Parnell’s announcement came after the candidate lost a custody battle with his estranged wife, Laurie Snell, who has accused him of physical and verbal abuse.
Abené will have more coming up, so stay tuned.
Trump-endorsed Senate candidate drops out amid abuse allegations
Sean Parnell, a Republican Senate candidate in Pennsylvania who received Donald Trump’s endorsement, is dropping out of the race.
Parnell made the announcement after losing a custody battle with his estranged wife, Laurie Snell, who has accused him of physical and verbal abuse.
A judge ruled that Snell would be awarded sole legal custody of the couple’s three children, while Parnell will have physical custody three weekends a month, per the Associated Press.
“I strongly disagree with the ruling today and I’m devastated by the decision,” Parnell said in a statement.
“There is nothing more important to me than my children, and while I plan to ask the court to reconsider, I can’t continue with a Senate campaign. My focus right now is 100% on my children, and I want them to know I do not have any other priorities and will never stop fighting for them.”
Parnell, who was running to replace retiring Senator Pat Toomey, had been considered the frontrunner in the Republican Senate primary after receiving Trump’s endorsement.
Updated
Joe and Jill Biden are now en route to Fort Bragg, North Carolina, where they will have an (early) Thanksgiving celebration with US troops and their families.
“Our troops and their families give so much to this country – and we’re thankful for their service each and every day,” the president said on Twitter earlier today.
Biden did not stop to take any questions from reporters as he left the White House to start the short trip to North Carolina.
.@POTUS and @FLOTUS depart White House. They will head to Fort Bragg in NC for an early Thanksgiving dinner with service members. pic.twitter.com/LsTbjWJIAH
— Bryan Lowry (@BryanLowry3) November 22, 2021
Updated
It must be the holiday season: Jill Biden was at the White House today to oversee the delivery of the first family’s Christmas tree.
“It’s beautiful. It’s magnificent actually,” Biden told reporters as the tree arrived at the White House.
First lady Jill Biden receives this year's White House Christmas tree as it is delivered, gives small branch to her grandchild.
— ABC News Politics (@ABCPolitics) November 22, 2021
"Look how beautiful this is!" https://t.co/1SlS2LIyjK pic.twitter.com/A76ZHI7vM3
The first lady cut off a small branch of the tree and offered it to one of her grandchildren, Hunter Biden’s son Beau, who was at the White House for the occasion.
According to the White House, the 18 ft Fraser fir was grown in North Carolina by Rusty and Beau Estes, who are three-time winners of the National Christmas Tree Association’s 2021 grand championship.
Updated
Today, a United Nations human rights expert said that electoral laws in some parts of the US have deprived millions of citizens, namely from minority groups, of having the equal right to vote, reported Reuters.
Fernand de Varennes, the U.N. special rapporteur on minority issues, speaking on the final day of a two-week visit to the United States, decried a Texas law that he said resulted in “gerrymandering” and dilution of voting rights of minorities in favour of white Americans.
“There is in fact what could be described as an undermining of democracy with a phenomenal number of legislative measures in different parts of the country ... which certainly have the effect of making the exercise of the right to vote more difficult for certain minorities,” he told a news briefing.
“It is becoming unfortunately apparent that it is almost a tyranny of the majority where the minority right to vote is being denied in many areas,” he added.
De Varennes called for a “New Deal” to overhaul legislation. There was no immediate U.S. reaction to his preliminary observations which de Varennes said he had shared with U.S. State Department officials earlier in the day.
The Guardian’s Sam Levine also wrote about key voting rights legislation being blocked by Republicans in the Senate and if Democrats could address legislative obstacles:
No, it’s not deja vu: Senate Republicans once again used the filibuster on Wednesday to stymie Democratic efforts to pass a significant voting rights bill. It’s the fourth time it’s happened this year, the most recent coming just two weeks ago.
But Democrats and other voting rights advocates hope that this time is different.
They never really expected 10 Republicans to sign on to the bill and advance it. Instead, they hoped to use the vote as a final chance to show the West Virginia senator Joe Manchin and Arizona senator Kyrsten Sinema, two of the staunchest filibuster defenders, that there is no hope of passing a voting rights bill while the filibuster remains in place.
Read the full report here.
Read the Guardian article here.
Updated
Vermont's only US representative is running for US Senate
Vermont’s only member of the US House, Democratic representative Peter Welch, announced today that he will run for the US Senate.
“I’m running for the United States Senate to work for you, for Vermont, for our country, and for our imperiled democracy,” said Welch in an announcement video shared to Twitter.
I'm running for the United States Senate to work for you, for Vermont, for our country, and for our imperiled democracy.
— Rep. Peter Welch (@WelchForVT) November 22, 2021
Join us: https://t.co/ReVLvWEM4T pic.twitter.com/lGKX7ZJJgP
One week after 81-year-old Vermont Senator Patrick Leahy revealed that he will not be running for re-election, Welch, who is 74, announced that he will run for Leahy’s senate seat.
“It’s just a critical moment in our democracy and in our country,” said Welch to the Associated Press today. “Are we going to continue to make progress facing climate change? Are we going to fight for reproductive rights and racial justice? Are we going to help working families?”
Welch, who was elected to Congress in 2007, said that he promises to use his experience in the House to work across the aisle and get progressive policies like the Green New Deal passed.
Welch has already been endorsed by Vermont senator Bernie Sanders who said he “has the knowledge and experience to hit the ground running as a strong advocate for Vermont’s working families.”
Leahy’s retirement and Welch’s senate run would create the first open seats in Vermont’s congressional delegation since 2006 when Sanders became a senator and Welch took his seat in the House.
Updated
Later today, Kamala Harris will announce that the Biden administration will be giving $1.5bn of coronavirus aid to address health care worker shortages in underserved communities, reports the Economic Times.
The funding will go to the National Health Service Corps, Nurse Corps and Substance Use Disorder Treatment and Recovery programs, all federal programs that offer scholarship and loan repayments for health care students and workers if they pledge to work in underserved and high-risk communities.
The money, which includes funds from the American Rescue Plan and other sources, will support more than 22,700 providers, marking the largest number of providers enrolled in these programs in history, according to the White House.
It comes in response to recommendations laid out earlier this month by the White House’s COVID-19 Health Equity Task Force, which issued a report outlining how the administration could address systemic inequality in the health care system.The COVID-19 pandemic has both highlighted and exacerbated health care disparities for minority and underserved communities.
Read more here.
Updated
In other news, more than 90% of federal workers have received at least one dose of the Covid-19 vaccine by today’s deadline set by Joe Biden, the Associated Press reports.
Previously in September, Biden announced that more than 3.5mn federal workers were required to get their Covid vaccine with no alternative testing option unless employees could get approved for medical or religious exemption.
Since then, more than 95% of federal workers are either being vaccinated or have requested an exemption. Workers that are unvaccinated and do not have an exemption will begin a “counseling” process that will result in termination if they refuse to get a vaccine or do not have the proper exemption status.
These statistics were confirmed by an official who agreed to speak to AP on the condition of anonymity as the official figures are set to be released later today.
The current success of the federal worker vaccine mandate could be a sign of progress for the Biden administration’s efforts to encourage Covid-19 vaccinations despite previous pushback.
Updated
Jerome Powell pledged that, if confirmed by the Senate, he would use his second term as Federal Reserve chair to drive down unemployment and confront inflation.
“We know that high inflation takes a toll on families, especially those less able to meet the higher cost of essentials like food, housing and transportation,” Powell said.
“We will use our tools both to support the economy and a strong labor market, and to prevent higher inflation from becoming entrenched.”
Dr Lael Brainard, who has been nominated by Joe Biden to serve as Fed vice-chair, similarly pledged to tackle inflation if confirmed by the Senate.
“I’m committed to putting working Americans at the center of my work at the Federal Reserve,” Brainard said. “This means getting inflation down at a time when people are focused on their jobs and how far their paychecks will go.”
After Powell and Brainard’s remarks, Biden concluded the event without taking any questions from reporters.
Biden defends Powell renomination: 'We need stability and independence'
Joe Biden pushed back against progressive criticism of his decision to renominate Jerome Powell as chair of the Federal Reserve board of governors.
“Some will no doubt question why I’m renominating Jay when he was the choice of a Republican predecessor,” Biden said.
“At this moment of both enormous potential and enormous uncertainty for our economy, we need stability and independence at the Federal Reserve.”
Biden says he renominated Jerome Powell as Fed Chair because "we need stability and independence." He says a "top priority" for Powell is "to accelerate the Fed's effort to address and mitigate the risk that climate change poses to our financial system" https://t.co/Z9aqDg7Ale pic.twitter.com/DBdnC2Irbc
— CBS News (@CBSNews) November 22, 2021
Biden commended Powell’s independence as Fed chair, noting he “stood up to unprecedented political interference” during Donald Trump’s presidency.
“It’s just one of the many reasons why Jay has support from across the political spectrum,” the president added.
Several Republican senators have already indicated they will support Powell’s renomination, meaning the Fed chair will likely have the votes to win confirmation despite progressives’ criticism of him.
Joe Biden used his speech on his nominations for the Federal Reserve board of governors to tout the country’s economic progress since he took office.
“America is the only major economy — the only one in the world — where the economy is bigger today, and families have more money in their pockets today, than before the pandemic hit,” Biden said.
“That’s even after accounting for inflation. None of our competitors internationally can say that. None. It’s a testament to the hard work and perseverance of the American people.”
The president’s remarks come as the country grapples with the highest level of inflation in more than three decades, and more Americans are reporting that rising prices are a “major crisis”.
Read more about Democrats’ concerns over inflation here:
Biden mourns those killed in Waukesha car attack
Joe Biden has now started his speech on his nominations for the Federal Reserve board of governors, which the White House announced this morning.
Before launching into his prepared remarks, the president took a moment to reflect on the car attack yesterday at a Christmas parade in Waukesha, Wisconsin.
“While we don’t have all the facts and details yet, we know this morning that five families in Waukesha are facing fresh grief,” Biden said. “An entire community is struggling to cope with a horrific act of violence.”
The president expressed his gratitude to the medical personnel who are working diligently to save dozens of others who were injured in the attack.
“My administration is monitoring the situation very closely,” Biden added.
Today so far
Here’s where the day stands so far:
- Joe Biden’s social spending package faces challenges in the Senate, after the House passed the Build Back Better Act on Friday. Senate Democrats are expected to make changes to the House version of the bill in the weeks to come, with the hopes of winning the support of centrists like Joe Manchin and Kyrsten Sinema.
- Biden announced he will renominate Jerome Powell as chair of the Federal Reserve board of governors. The president will also nominate Dr Lael Brainard to serve as vice-chair of the Fed board, on which she has served since 2014.
- At least three Senate Democrats have indicated they will oppose Powell’s renomination. Senators Elizabeth Warren, Jeff Merkley and Sheldon Whitehouse have said they will vote against Powell’s nomination, but the chairman appears to have enough Republican support to overcome progressive opposition.
The blog will have more coming up, so stay tuned.
Joe and Jill Biden will spend some time with US service members this evening to mark Thanksgiving, which the country will celebrate on Thursday.
The president and the first lady are flying to Fort Bragg, North Carolina, later today to “celebrate Friendsgiving with service members and military families as part of the Joining Forces initiative,” per Biden’s official schedule.
This afternoon, the First Lady and I are heading to Fort Bragg for a Friendsgiving dinner. Our troops and their families give so much to this country — and we’re thankful for their service each and every day.
— President Biden (@POTUS) November 22, 2021
Before flying to Fort Bragg, the president will deliver a speech on the his newly announced nominations for the Federal Reserve board of governors.
Jerome Powell, who has been renominated as board chair, and Lael Brainard, who has been nominated as vice-chair, will also speak at the White House event.
Warren confirms she will vote against Powell's renomination
Progressive senator Elizabeth Warren confirmed she will oppose the renomination of Jerome Powell to serve another term as chair of the Federal Reserve board of governors.
“It’s no secret I oppose Chair Jerome Powell’s renomination, and I will vote against him,” the Massachusetts Democrat said in a statement.
Warren noted she will support the nomination of Dr Lael Brainard as vice-chair, adding that Powell’s “failures on regulation, climate, and ethics make the still-vacant position of Vice Chair of Supervision critically important”.
My statement on the Federal Reserve nominations: pic.twitter.com/W8FgAJdj2e
— Elizabeth Warren (@SenWarren) November 22, 2021
At least two other Senate Democrats, Jeff Merkley of Oregon and Sheldon Whitehouse of Rhode Island, have already indicated they will also oppose Powell’s renomination.
But several Republicans -- including Pat Toomey of Pennsylvania, Mitt Romney of Utah and Kevin Cramer of North Dakota -- have said they will vote in favor of Powell’s nomination.
So Powell will still likely have the votes to secure his confirmation, even if a handful of Democrats oppose his nomination.
Although she will not have a vote in Jerome Powell’s Senate confirmation battle, House speaker Nancy Pelosi praised Joe Biden’s decision to renominate the Federal Reserve board chair for another term.
“Chairman Powell has brought steady leadership and sound judgment to the Federal Reserve’s mission of promoting maximum employment, stable prices and a sound financial system, especially during a time of unprecedented crisis,” Pelosi said in a statement.
“His proven track record and goal of achieving ‘broad-based and inclusive’ employment while lowering families’ costs will continue serve the country well, as America, under the leadership of President Biden, rebounds and Builds Back Better from crisis.”
The scholars who penned the open letter specifically called on the Senate to pass the Freedom to Vote Act, which would require many states to overhaul their election rules to expand access.
It would require 15 days of early voting, implement automatic and same-day registration and allow anyone to cast a mail-in ballot if they want to. It would also limit the kind of extreme partisan gerrymandering lawmakers are deploying across the country as they redraw electoral maps right now.
The measure is one of two major pieces of voting rights legislation stalled in the senate. The second is the John Lewis Voting Rights Advancement Act, which would restore a key provision of the Voting Rights Act that require places with a history of voting discrimination to get election changes approved by the federal government before they go into effect.
Senate Majority Leader Chuck Schumer has pledged to find a way to pass those bills and tasked certain senators with figuring out a path forward.
But there is growing unease about whether Democrats will be able to do something before the end of the year. Senator Kyrsten Sinema, a Democrat who is one of the staunchest defenders of the filibuster, said she still favors the rule in an interview with the Washington Post over the weekend.
“Defenders of democracy in America still have a slim window of opportunity to act. But time is ticking away, and midnight is approaching,” the scholars wrote.
Scholars urge Senate to eliminate filibuster, citing 'critical risk' to democracy
America’s democracy will be at “critical risk” if the US Senate fails to pass sweeping voting rights legislation, more than 150 scholars of American democratic systems said in an open letter published Sunday.
The academics called on the US Senate to get rid of the filibuster, the rule that requires 60 votes to advance most legislation through the upper chamber.
Republicans have used the rule to block voting rights legislation from advancing on four separate occasions this year. Preserving the filibuster, they said, would be a “blunder that future historians will forever puzzle over.” The letter was first reported by Axios.
“Not only could this failure undermine the minimum condition for electoral democracy—free and fair elections—but it would in turn likely result in an extended period of minority rule, which a majority of the country would reject as undemocratic and illegitimate,” the scholars wrote.
“This would have grave consequences not only for our democracy, but for political order, economic prosperity, and the national security of the United States as well.”
At least two Senate Democrats -- Jeff Merkley of Oregon and Sheldon Whitehouse of Rhode Island -- have already indicated they will vote against the renomination of Jerome Powell as Federal Reserve board chair.
In a joint statement, the two senators argued Powell had failed to use the tools of the Federal Reserve to address the economic threat posed by the climate crisis.
We need a focus on climate action in all facets of the federal government, including the Federal Reserve. Jerome Powell has already proven the he won’t answer calls for climate action. I will vote no. https://t.co/o1bCD0i4yE
— Senator Jeff Merkley (@SenJeffMerkley) November 22, 2021
“Jerome Powell refuses to recognize climate change as an urgent and systemic economic threat,” the two senators said.
“President Biden must appoint a Fed Chair who will ensure the Fed is fulfilling its mandate to safeguard our financial system and shares the Administration’s view that fighting climate change is the responsibility of every policymaker. That person is not Jerome Powell.”
Jerome Powell’s handling of the economic fallout from the Covid-19 pandemic has won the chair of the Federal Reserve the backing of the White House for a second term running the world’s most important central bank.
Despite speculation that he might sack Donald Trump’s appointee, Joe Biden cited the “decisive action” taken by Powell during the early stages of the crisis as a reason to reappoint the 68-year-old Republican for another four years.
The White House said Lael Brainard – the only Democrat on the Fed board, whom some had tipped as a possible replacement for Powell – was its choice to become the vice-chair.
The nominations hark back to a tradition of a non-partisan approach to the top job at the Fed that was broken by Trump. Some progressive Democrats had called for Biden to follow the same approach and appoint Brainard in Powell’s place.
Both nominations are subject to approval by a Democrat-controlled Congress and come at a time when the Fed is grappling with an annual inflation rate of 6.2% – the highest level in more than three decades.
Despite the bipartisan support for Jerome Powell’s renomination, there will likely be at least one Senate vote against the Federal Reserve board chair.
Progressive senator Elizabeth Warren has criticized Powell’s leadership of the board, and she has previously indicated she would not support his renomination if Joe Biden appointed him to serve another term.
“Your record gives me grave concerns,” Warren told Powell in September, when he testified before the Senate banking committee.
“Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed, and it’s why I will oppose your renomination.”
Warren has not yet commented on Biden’s announcement that he will renominate Powell. Stay tuned.
The Democratic chair and Republican ranking member of the Senate banking committee quickly released statements endorsing Joe Biden’s renomination of Jerome Powell as chair of the Federal Reserve board of governors.
“Chair Jerome Powell has led our economy through a historic pandemic, and under his and President Biden’s leadership, unemployment has fallen and workers are seeing increased bargaining power,” Democratic chair Sherrod Brown said.
“I look forward to working with Powell to stand up to Wall Street and stand up for workers, so that they share in the prosperity they create.”
Fed Chair Powell has led our economy through a historic pandemic. Under his & @POTUS's leadership, unemployment has fallen and workers are gaining power.
— Sherrod Brown (@SenSherrodBrown) November 22, 2021
They’ll continue to steer our recovery in the right direction – toward an economy that empowers workers and their families.
Pat Toomey, the Republican ranking member of the committee, acknowledged he has had policy disagreements with Powell but commended his overall leadership of the Fed board.
“When the pandemic hit in 2020, Chairman Powell acted swiftly and took extraordinary and necessary steps to help stabilize financial markets and the economy,” Toomey said.
“While I have strongly disagreed with Chairman Powell’s decision to continue the Fed’s emergency accommodative monetary policy—long after the economic emergency had passed—Chairman Powell’s recent comments give me confidence that he recognizes the risks of higher and more persistent inflation and is willing to act accordingly to control it. I look forward to supporting his confirmation.”
Treasury secretary Janet Yellen praised Joe Biden’s decision to renominate Jerome Powell as the chair of the Federal Reserve board of governors.
“The steady leadership of Chair Powell and the Federal Reserve helped ensure that America’s economy was able to recover from a once-in-a-generation health and economic crisis,” Yellen said in a statement.
“Over the past few years, Chair Powell has provided strong leadership at the Federal Reserve to effectively meet and address unexpected economic and financial challenges, and I am pleased our economy will continue to benefit from his stewardship.”
The steady leadership of Chair Powell & the Federal Reserve helped ensure our economy was able to recover from a once-in-a-generation health & economic crisis. I'm pleased our economy will continue to benefit from his stewardship, & the expertise & experience of Lael Brainard. pic.twitter.com/IKT5mwIcdO
— Secretary Janet Yellen (@SecYellen) November 22, 2021
She similarly commended Biden’s selection of Dr Lael Brainard to serve as vice-chair of the Fed board, describing her as “a respected economist with years of experience [who] has been instrumental in the nation’s recovery”.
Yellen concluded, “As Treasury Secretary, I will continue to support a strong and independent Federal Reserve, empowered to pursue its dual mandate of stable prices and maximum employment to benefit American workers and families.”
Biden announces he will renominate Powell as Fed chairman
Joe Biden has just announced he will renominate Jerome Powell to serve another term as chair of the Federal Reserve board of governors.
In a new statement, the White House noted Biden will also nominate Dr Lael Brainard to serve as vice-chair of the Fed board, on which she has served since 2014.
America needs steady, independent, and effective leadership at the Federal Reserve. That’s why I will nominate Jerome Powell for a second term as Chair of the Board of Governors of the Federal Reserve System and Dr. Lael Brainard to serve as Vice Chair of the Board of Governors.
— President Biden (@POTUS) November 22, 2021
“While there’s still more to be done, we’ve made remarkable progress over the last 10 months in getting Americans back to work and getting our economy moving again,” Biden said in the statement.
“That success is a testament to the economic agenda I’ve pursued and to the decisive action that the Federal Reserve has taken under Chair Powell and Dr. Brainard to help steer us through the worst downturn in modern American history and put us on the path to recovery. ...
“Fundamentally, if we want to continue to build on the economic success of this year we need stability and independence at the Federal Reserve – and I have full confidence after their trial by fire over the last 20 months that Chair Powell and Dr. Brainard will provide the strong leadership our country needs.”
The president still has three seats to fill on the Fed board, including the position of vice-chair for supervision. The White House said Biden plans to announce those appointments “beginning in early December”.
Democrats are worried that inflation could imperil their legislative agenda and their majorities in Congress as crucial midterm elections loom next year.
While Joe Biden and fellow Democrats had previously sought to downplay rising inflation, it has become an unavoidable issue as prices continue to climb.
The labor department has reported that prices increased by 6.2% over the past 12 months, marking the most rapid uptick since 1990. Gasoline prices have increased by 49.6% over the past year, while food prices have risen by 5.3%.
As prices rise, more working Americans are noticing their bills have become more burdensome. According to a poll conducted by the progressive firm Navigator Research this month, 54% of Americans now say the cost of groceries and gas is a “major crisis”, marking a 17-point increase since September.
Senator Joe Manchin, one of the key holdouts in Democrats’ negotiations over their $1.75tn spending package, has said he is hearing more from constituents who are concerned about their gas and grocery bills.
“By all accounts, the threat posed by record inflation to the American people is not ‘transitory’ and is instead getting worse,” Manchin said in response to the labor department’s latest report. “From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day.”
Manchin has previously expressed concern that Democrats’ spending package, known as the Build Back Better Act, could negatively contribute to inflation.
Biden will need Manchin’s support to get the spending package through the evenly divided Senate, so the senator’s concerns could endanger the president’s top legislative priority.
“Corporate” Democrats in the Senate imperil Joe Biden’s Build Back Better Act, a leading House progressive warned – but not just Joe Manchin and Kyrsten Sinema, the targets of most leftwing ire.
Such Democrats, Rashida Tlaib of Michigan said, are influenced by donors who “don’t have the best interests of the American people in mind”.
At the same time, the New York Times reported that Manchin and Sinema are increasingly receiving money from corporate and conservative donors.
In an interview broadcast on Sunday, Tlaib told Axios she was “fearful” that “corporate Dems” would “guide this agenda. It’s gonna be the people that are gonna continue to profit off of human suffering.
“I know that they’ve been influenced and guided by folks that don’t have the best interests of the American people in mind.”
Tlaib said she was referring to Manchin and Sinema, “but I think there are some others that ... have issues with the prescription drug negotiations there.
“And so I can’t say it’s just those two. They seem to be leading the fight, but I wouldn’t be surprised if folks are hiding behind them.”
Build Back Better advances to the Senate, where potential problems loom
Greeting, live blog readers.
The House passed Democrats’ $1.75tn social spending package, know as the Build Back Better Act, on Friday in a vote of 220 to 213.
The legislation now advances to the Senate, where the proposal will face many more hurdles. All 50 Democratic senators must support the bill in order to get it to Joe Biden’s desk.
Senate Democrats have already indicated they plan to make changes to the House version of the bill, particularly when it comes to the revenue-raising provisions that will help pay for the package.
And one of the centrist holdouts in the negotiations over the bill, Joe Manchin, has previously indicated concerns about how the proposal may negatively impact inflation.
So the Senate needs to craft a version of the bill that can win the support of all 50 Democratic members, and then congressional leaders from both chambers need to come together to agree on a final version of the legislation.
It’s going to be a long month of negotiations. Stay tuned.
