Rand Paul seizes anti-Fed mantle to imperil Trump’s Fed nominee

Sen. Rand Paul (R-Ky.) said Thursday he’s going to vote against Marvin Goodfriend’s bid as a member of the Federal Reserve board, a move that might sink the nomination to the Senate floor.

Goodfriend, nominated by President Mr . trump, was approved by the Senate Banking Committee in a 13-12 party-line vote, indicating that he is unlikely to receive any Democratic support. With Sen. John McCain (R-Ariz.) out for your health, any Republican “no” vote could defeat his nomination.

Story Continued Below

Paul is definitely an outspoken Fed critic, and the father during Congress once introduced an invoice specifically condemning the economist’s idea for just a “carry tax.”

Goodfriend suggested the concept, that would lessen the valuation on dollar bills depending they’d been beyond a bank, since he worked at the Richmond Fed. During his nomination hearing, he stated yet not advocate to your tax if confirmed.

“I do not know a lot about him, although I do believe he was which one desired to insert [a] metal strip from the currency as well?” Paul told reporters beyond the Senate chambers, when inquired about Goodfriend. “Doesn’t sound exciting in my opinion, so I’m going to be a no.”

The White House voiced its continued support for Goodfriend after news broke of Paul’s opposition.

“The President stands behind his nomination of Marvin Goodfriend, who is incredibly qualified for the Federal Reserve board of governors," Deputy White House Press Secretary Lindsay Walters said from a statement to POLITICO. "Hopefully the Senate confirms Mr. Goodfriend swiftly given the significance about the government Reserve towards American economy.”

Democrats have criticized Goodfriend to generate inflation an improved priority than unemployment for his support of House Financial Services Chairman Jeb Hensarling’s Financial CHOICE Act.

A vote hasn’t yet been scheduled for Goodfriend.

Leave a Reply

Your email address will not be published. Required fields are marked *