There are people on the left, including in the Biden administration, who are advocating that the Fed use its supervisory powers to resolve complex political issues, like what to do about global warming, social justice, and even education policy.
Toomey criticizes calls for the Fed to address political issues outside its mandate.
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Unfortunately, I am deeply concerned that financial regulators, including the Fed and the SEC, are increasingly straying into contentious political issues wholly unrelated to their mandates and expertise.
We should not pay for an infrastructure package by borrowing billions more dollars, but that is precisely what happened with this law.
I have worked with Mike directly on critical policy issues, including the COVID-19 relief packages we passed nearly two years ago.
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