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Progressive Dems Call on Biden to Replace Powell with Fed Chair Who Will Take on Climate Crisis

HeadlineSep 01, 2021

A group of Democratic lawmakers, including Congressmembers Alexandria Ocasio-Cortez, Rashida Tlaib and Ayanna Pressley, are calling on President Biden to replace Federal Reserve Chair Jerome Powell for neglecting to take on the climate crisis and weakening financial regulations. Earlier this year, 350.org joined other climate groups to demand a new Fed chair, accusing the agency under Powell of bailing out the fossil fuel industry rather than helping impacted communities during the pandemic. Powell was appointed as Fed chair by Trump. His term ends in February 2022, but Biden could soon announce whether he will reappoint him or replace him.

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