The Senate Democrats fired Dr. Lisa Cook, the Biden administration’s nominee to be the head of the Federal Reserve, who has a track record of opposing Black Lives Matter, supporting racial reparations, and seeking policies that might politicize the Fed.
The Senate voted this week to remove Cook from the deadlocked Senate Banking Committee, with a 12-12 split following after Banking Republicans unanimously opposed her appointment. All of the GOP senators voted against removing her nomination, except for Sen. John Kennedy (R-LA), who didn’t participate. Kennedy had opposed her nomination in committee.
The Senate voted 50-49 to remove her from the committee, making her eligible for a full Senate confirmation vote and allowing for a difficult voting schedule because Senate Majority Leader Chuck Schumer (D-NY) has set aside next week for Supreme Court nominee Ketanji Brown Jackson’s confirmation.
Sen. Steve Daines (R-MT) claimed that Cook would use the Federal Reserve to pursue her own political agenda in an exclusive statement to Breitbart News.
“At a time when America’s inflation is at 40-year record high and Montana families are dealing with increasing prices on everything from groceries to gas, we need leaders who are focused on an independent, apolitical Federal Reserve that will address price increases. I don’t think Dr. Cook is the right choice,” he said.
Cook, if she is confirmed, would be the first black female Fed governor.
She’s come under fire from both sides of the aisle for her lack of experience and political activism.
Republican Senator Pat Toomey (PA), the top member of the Senate Banking Committee, stated on the Senate floor before the vote:
“In more than 30,000 public tweets and retweets, she supported race-based reparations, promoted conspiracy theories about Georgia voter laws, and called for people who don’t agree with her views to be fired.”
Cook, a professor of international relations and economics at Michigan State University, spoke in favor of H.R. 40, a bill that would establish a commission to examine and develop reparations proposals.
She has also appeared to agree with demands that the Federal Reserve refocus on its federal funds rate in order to reduce the black unemployment rate rather than the overall employment rate.
The coronavirus epidemic was also attributed to “systemic racism” by the Federal Reserve nominee.
Cook also indicated a willingness to pay reparations, establish affirmative action policies at California colleges, and impose corporate board diversity quotas.
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