As Inflation Soars Biden Explains How the Fed Chairman Will Work to Combat...Climate Change

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Posted: Nov 22, 2021 3:30 PM
As Inflation Soars Biden Explains How the Fed Chairman Will Work to Combat...Climate Change

Source: AP Photo/Andrew Harnik

Speaking from the fake White House set in the Eisenhower Executive Office Building Monday afternoon, President Joe Biden announced he will renominate Jerome Powell to lead the Federal Reserve. 

While limiting his remarks about runaway inflation, Biden explained how Powell will use his position at the monetary agency to combat climate change. 

Biden's description of how Powell will manage the Federal Reserve to work in the left's climate change goals is indicative of his administration's broader plans for the economy. 

Last week Saule Omarova, Biden's nominee to be the Treasury Department Comptroller, testified in front of the Senate Banking Committee. She was heavily scrutinized by Republicans and Democrats over her statements calling for the oil and gas industries to be bankrupted in order to meet climate change goals. 

If confirmed, Omarova would be in charge of the Office of the Comptroller of the Currency. The OCC "charters, regulates, and supervises all national banks, federal savings associations, and federal branches and agencies of foreign banks."

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