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The collective brain trust that is Reps. Alexandria Ocasio-Cortez, Rashida Tlaib and Ayanna Pressley, has once again come together to hoist upon the populace their latest idea for turning the United States into their vision of a socialist utopia.
Today's installment in "real congresswomen of genius" includes the "squad" urging President Biden to replace arguably the most dovish Fed chair in modern history because he isn't doing enough about climate change, which of course, has nothing to do with the Fed's dual mandate. All three women (of course) sit on the House Financial Services Committee.
In a statement to Politico, the Reps. said: “As news of the possible reappointment of Federal Reserve Chair Jerome Powell circulates, we urge President Biden to re-imagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice. We urge the Biden Administration to use this opportunity to appoint a new Federal Reserve Chair.”
AOC said of Jerome Powell: “Under his leadership, the Federal Reserve has taken very little action to mitigate the risk climate change poses to our financial system.”
“At a time when the Intergovernmental Panel on Climate Change is warning of the potential catastrophic and irreversible damage inflicted by a changing climate, we need a leader at the helm that will take bold and decisive action to eliminate climate risk,” their statement said.
The emotionally-stable women continued: “Weakening financial regulations that were specifically created to prevent such a disaster from happening again risks the livelihoods of Americans across the country. To move forward with a whole of government approach that eliminates climate risk while making our financial system safer, we need a Chair who is committed to these objectives.”
The Reps. are a minority as part of the "few" lawmakers who haven't been satisfied with the job Powell has done as Fed Chair. Sens. Sherrod Brown of Ohio and Elizabeth Warren of Massachusetts have occasionally been critical of Powell's deregulatory efforts, however, Politico notes.
But for the most part, Powell has received praise from both sides of the aisle. His term is set to run out in February and Biden is expected to announce his plans for the position within weeks.
The call for Powell's removal comes at a time when the Fed has been engaged in substantial mission creep with its mandate now including Social Justice, Race, Gender Issues, Climate Change And Inequality. This farcial outcome has prompted even the ultra pro-establishment and central bank FT to write that Central Banks need to "stop the mission creep".
"Mission creep is a common problem," a new op-ed, suggesting the Fed actually focus on doing its job and no other political nonsense, says. The piece suggests the Fed stay in its lane and ignore political problems and issues like climate change: "It might be time for national politicians to start insisting that political issues are left to them and that everyone else just gets on with their own jobs. Local councils could fix the roads really quickly. Companies could make, sell and deliver stuff. And central banks could use monetary tools to have a go at controlling inflation."
Alas, that won't happen and instead the most likely outcome is that after the next crash the squad will get its wish, and the Fed will have the wokest, pro-MMT female chair yet, one who is especially adept at wiring digital dollars to minorities in the form of reparations for centuries of slavery under the white devil.
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