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Progressives led by AOC call for Biden to replace Fed Chair Powell
CNN
Progressive Democrats, including New York Rep. Alexandria Ocasio-Cortez, are calling on President Joe Biden to give the Federal Reserve a sweeping makeover by replacing Jerome Powell as chairman.
"We urge President Biden to reimagine a Federal Reserve focused on eliminating climate risk and advancing racial and economic justice," the lawmakers said in a statement Tuesday morning. In addition to Ocasio-Cortez, the statement was issued Reps. Rashida Tlaib of Michigan, Ayanna Pressley of Massachusetts, Mondaire Jones of New York and Chuy Garcia of Illinois, all members of the Congressional Progressive Caucus.More Related News

Cara Petersen, the Consumer Financial Protection Bureau’s acting enforcement director, resigned from the agency on Tuesday. In an email to colleagues announcing her decision, Petersen slammed the Trump administration’s efforts to dismantle the agency, which was established as a banking watchdog following the 2008 global financial crisis.