On Wednesday, White House Press Secretary Jen Psaki identified an interesting scapegoat for the rapidly spiraling inflation that’s become characteristic of the Biden administration. Per reports from the Hill, Psaki claims that inflation has risen since GOP senators are currently blocking Biden’s varied nominees to the Federal Reserve.
Per Psaki, Biden believes that “Republicans are AWOL on the fight against inflation at this pivotal moment in our economy.”
“Everyone understands we need a full Federal Reserve board,” Psaki sniffed, “the first one in nearly a decade, to tackle inflation and bring prices down for American families.”
The White House Press Secretary continued onward to lavish praise upon a strategy presented by Senator Sherrod Brown, a Democrat from Ohio, that aims to delay chamber votes until Republican senators agree to evaluate all five of the choices Biden has made for the Federal Reserve.
Psaki claims that the Biden administration is “absolutely” backing that strategy, noting that the White House is not in favor of “splitting the nominees.”
“[The White House] supports Chairman Brown’s decision to keep all five on the Fed board,” Psaki blared, adding that Republicans “[just] need to do their jobs” by “[showing] up to vote for these nominees” that they have apparently had no say in whatsoever.
According to Senator Pat Toomey, a Republican from Pennsylvania and the ranking member of the Senate Banking Committee, Republicans are generally comfortable with 80 percent of Biden’s picks, or four out of five of the suggested nominees for the Federal Reserve.
However, GOP Senators remain highly uncomfortable with affirming Sarah Bloom Raskin, per reports from The Hill.
Per Toomey, several “important questions” regarding Raskin’s usage of “the revolving door” remain mostly unanswered, especially since Raskin ostensibly displayed “repeated disingenuousness with the Committee.”
“I do not think the Committee should proceed with a vote on Ms. Raskin,” Toomey concluded, “until basic questions have been adequately addressed.”
Prior to being blocked by the GOP, the panel had been scheduled to vote on Raskin’s nomination to the Federal Reserve Vice Chair of Supervision, along with Lael Brainard’s nomination to be the Federal Reserve Vice Chair and the nominations of Phillip Jefferson and Lisa Cook to serve as members of the Federal Reserve Board of Governors. The schedule voted would have also entailed Federal Reserve Chairman Powell’s renomination to his current position.
Additionally, a vote regarding Sandra L. Thompson’s nomination to becoming Director of the Federal Housing Finance Agency was also scheduled to commence, though this nomination has since been delayed.