Posted on 03/29/2022 11:25:15 AM PDT by Oldeconomybuyer
WASHINGTON (AP) — The Senate on Tuesday agreed to consider the nomination of Lisa Cook for a position on the Federal Reserve’s Board of Governors on a 50-49 party-line vote.
The result suggests that there is sufficient support in the evenly-divided Senate to approve Cook, who would be the first Black woman to serve on the Fed’s powerful board in its 108-year history. All 50 Senate Democrats voted in favor, while all Republicans, except for Sen. John Kennedy, from Louisiana, voted against her nomination. Kennedy did not vote.
“Professor Cook has nearly zero experience in monetary policy,” Toomey said before the vote. “What’s even more troubling is that, in addition to having no monetary policy experience, Professor Cook also appears to have no opinion at all on how the Fed should address inflation.”
Her most well-known research has focused on the impact of lynchings and racial violence on African-American innovation, which some conservative economists have said isn’t relevant to the Fed’s mission.
Toomey also criticized her for having a “history of extreme left-wing political advocacy and hostility to opposing viewpoints,” including comments on Twitter in favor of reparations for African Americans.
Democratic Sen. Sherrod Brown from Ohio, chairman of the Banking Committee, said Cook is “extremely qualified.”
(Excerpt) Read more at apnews.com ...
This just sends it to the floor. The moment of glory will come when Harris casts the 51st vote to confirm her.
Because the evil white man captured and took them away from their motherland.
Her job is to do the Democrats’ bidding whether Democrats are in charge or whether Republicans are in charge, just like all of the civi service jobs.
Is President Trump’s economy doing a little too well? We can crank up the interests rates.
Is President Biden’s economy languishing? We can do negative interests rates.
The Fed is going to have to go through a major overhaul, just like our intelligence agencies and state department.
The committee vote (Senate Juiciary Committee) is critical. It is evenly divided between Democrat and Republicans (11-11). If the vote is a tie Schumer can advance the nomination to the full Senate but it is then subject to filibuster. The Judiciary Committee has to advance a nominee by a majority to allow a majority vote in the Senate and not a 60 vote threshold.
The Senate Banking Committee is also evenly divided between Democrat and Republicans (12-12). According to the article:
"Tuesday’s vote was necessary because the Senate Banking Committee deadlocked on her nomination, 12-12. The tie vote meant that the full Senate had to vote to discharge her nomination from the committee so that it could be considered by the Senate."
Why wasn't this nomination subject to filibuster?
The Senate ended filibusters on non-judicial executive appointments in 2013.
The Senate also ended filibusters on confirmation of judicial executive appointments in 2013. The only executive appointment filibusters that Harry Reid did not unilaterally end were Supreme Court appointments, simply because there were no open Supreme Court seats at the time.
In 2017, the Senate extended Reid’s appointment filibuster ban to include Supreme Court appointments.
No sure if it is a committee dependent rule or not. Also, Republicans have to call for the filibuster.
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