Kamala Harris BREAKS TIE – Senate Vote Passes
(RightWing.org) – President Biden managed to get another nominee to the Federal Reserve confirmed this week — but it took the vice president’s tie-breaking vote to do it. Controversial economics professor Lisa Cook faced unanimous opposition from Republicans worried that she’ll politicize the central bank.
The Senate confirmed Lisa Cook as a Federal Reserve governor on Tuesday, making her the first Black woman to hold that influential policy post. Her confirmation came after Vice President Kamala Harris broke a 50-to-50 tie in the Senate. https://t.co/IwGv3D85IA
— The New York Times (@nytimes) May 11, 2022
On May 10, the Senate voted on the confirmation of Professor Lisa D. Cook, an academic from Michigan State University, to the Fed’s board of governors. The result was a perfect 50/50 split, with every Democrat and Independent voting for Cook and every Republican opposing her appointment. That cleared the way for Vice President Harris to step in with her deciding vote. Now Liberals are hailing the confirmation of the Fed’s first black female governor — but what could this mean for our economy?
The Federal Reserve is theoretically free of direct political control, so the government’s main lever for steering is its appointed board. Biden is trying to put his own choices into five of the seven board seats, and he’s picking economics professors with strong left-wing leanings. Cook is the perfect example.
Republicans say Cook doesn’t have the expertise on monetary policy that’s needed for the Fed post; her best-known research was on the economic effects of racism, and most of her work at Michigan State has been on international relations, not economics.
She’s also well known for posting left-wing opinions on Twitter. During her confirmation hearings, she was asked how she would combat the inflation that’s crippling our economy — and she couldn’t answer. Now, she’ll regularly get a vote on serious economic decisions that could make or break this country.
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