TODAY: Sen. Mike Rounds Refuses To Show Up to Help Lower Inflation
FOR IMMEDIATE RELEASE
February 15, 2021
Today, Sen. Mike Rounds refused to show up to fulfill his constitutional duty of representing his constituents to vote on critical nominees for the Federal Reserve. The same Republicans who routinely complain about higher costs without having a plan to lower them are now pulling political stunts to block highly qualified nominees to the Federal Reserve Board where they can immediately get to work to tackle inflation. Sen. Rounds is not only slowing down President Biden and Democrats from lowering the costs that millions of Americans are struggling with, but also actively kneecapping our economic recovery as we emerge from a global pandemic.
FACT: Senate Republicans are standing in the way of President Biden’s economic recovery and making it harder to tackle inflation.
Wall Street Journal: “Senate Republicans Block Vote on Biden’s Fed Nominees”
NPR: “Senate Republicans blocked a committee vote Tuesday on five of President Biden’s nominees to the Federal Reserve board, delaying their confirmation at a time when the central bank is under growing pressure to crack down on inflation.”
FACT: As Committee Chairman Senator Brown pointed out, if Republicans were as concerned as they say they are about inflation, they’d want a full Federal Reserve Board in place. Clearly they’re all talk.
Senator Brown: “If Republicans are as concerned as they say they are about combatting inflation, they should want a full Federal Reserve board in place.”
FACT: More than 100 leading economists agree that all of President Biden’s Fed nominees are eminently qualified and should be confirmed by the Senate without delay.
The Hill: “Biden Fed picks get boost from dozens of economists”
Politico: “Some of the world’s top economic policymakers and scholars, including Ben Bernanke, Alan Blinder, Robert Solow, Maury Obstfeld, Laura Tyson, Betsey Stevenson, Austan Goolsbee and Sandra Black, are urging the Senate Banking Committee to advance all of President Biden’s Federal Reserve nominees in a new letter shared with MM … More than 180 economists signed the letter, which was organized by the Washington Center for Equitable Growth.”