As Americans get hammered by roaring inflation, 80 senators vote to confirm Federal Reserve chair Jerome Powell to another term



The Senate on Thursday voted 80-19 in favor of confirming Jerome Powell to a second term as chair of the Federal Reserve.

While lawmakers from both parties voted to confirm Powell, there were also senators on both sides of the political aisle who voted against confirmation — Sens. Rand Paul (R-Ky.), Richard Shelby (R-Ala.), Bernie Sanders (I-Vt.), Jon Ossoff (D-Ga.), and Elizabeth Warren (D-Mass.) were some of the 19 lawmakers who voted against confirmation.

"Today, I voted no on the reconfirmation of Jay Powell to be Chairman of the @FederalReserve," Sen. Shelby said in a statement. "American families are facing rampant inflation and historically high prices. Powell and the rest of the Fed have failed the American people. We should not reward failure."

Today, I voted no on the reconfirmation of Jay Powell to be Chairman of the @FederalReserve. American families are facing rampant inflation and historically high prices. Powell and the rest of the Fed have failed the American people. We should not reward failure.
— Richard Shelby (@Richard Shelby) 1652379737

"I like and respect Chairman Powell," Ossoff said in a statement. "But 8.3 percent inflation is hurting my constituents a year after the Fed predicted inflation was 'transitory.' The Fed persisted in massive quantitative easing even after it was clear inflation was worse than forecast. These are policy errors that have worsened inflation and hurt low-income people the most. I recognize that Chairman Powell has a difficult job in challenging times, and I sincerely hope for his success in his second term."

Sen. @ossoff statement on his vote against Fed Chair Powell:pic.twitter.com/39Er2gNwnZ
— Miryam Lipper (@Miryam Lipper) 1652382554

Americans have been getting hammered by high prices as soaring inflation eats away at the purchasing power of their hard-earned dollars. The Fed has been hiking interest rates in a bid to combat the roaring inflation.

The U.S. Bureau of Labor Statistics released consumer price index data on Wednesday: "The all items index increased 8.3 percent for the 12 months ending April, a smaller increase than the 8.5-percent figure for the period ending in March," the BLS press release noted.

Then-President Donald Trump nominated Powell to his first term as Federal Reserve chair, and President Joe Biden nominated Powell to a second term. Powell's initial term ended in early February, but he has been serving as chair pro tempore.

Senate confirms transgender Dr. Rachel Levine as assistant health secretary



The Senate voted Wednesday to confirm Dr. Rachel Levine as the nation's assistant secretary of health, making the former Pennsylvania health secretary the first openly transgender official ever confirmed by the upper chamber.

What are the details?

Two Republicans, Sens. Lisa Murkowski (Alaska) and Susan Collins (Maine) joined all Democrats in approving Levine's confirmation, with a final vote tally of 52-48. She is expected to oversee Health and Human Services offices and programs across the U.S.

LGBTQ advocates hailed the news, with Alphonso David, president of the Human Rights Campaign, issuing a statement saying, "With the confirmation of Dr. Rachel Levine, we are one step closer to a government that mirrors the beautiful diversity of its people."

In a statement to The New York Times, Levine said after the vote:

"As Vice President Harris has said, I recognize that I may be the first, but am heartened by the knowledge that I will not be the last. When I assume this position, I will stand on the shoulders of those who came before — people we know throughout history and those whose names we will never know because they were forced to live and work in the shadows."

Levine went on to address transgender youth in particular, writing:

"I know that each and every day you confront many difficult challenges. Sadly, some of the challenges you face are from people who would seek to use your identity and circumstance as a weapon. It hurts. I know. I cannot promise you that these attacks will immediately cease, but I will do everything I can to support you and advocate for you."

Levine, 63, is a pediatrician who served in senior medical positions at Penn State Milton S. Hershey Medical Center before being appointed to serve as Pennsylvania's physician general in 2015, The Washington Post reported. In 2017, Levine became the state's health secretary.

Levine's handling of the coronavirus pandemic in her most recent role fell under scrutiny from Republicans, most notably for Pennsylvania's controversial policy of placing elderly COVID-19 patients into nursing homes in order to keep hospital beds free.

Levine has defended that decision, along with her decision to move her own 95-year-old mother out of a personal care facility due to the pandemic, TheBlaze previously reported.

How did one senator react?

Republican Pennsylvania Sen. Pat Toomey explained his "no" vote on Levine's confirmation to the Associated Press, saying, "In Pennsylvania, the pandemic struck seniors in nursing homes disproportionately hard compared to other states. This was due in part to poor decisions and oversight by Dr. Levine and the Wolf administration."

He added that an extended lockdown pushed by Levine "was excessive, arbitrary in nature, and has led to a slower recovery."