Watchdog: After Repeatedly Politicizing Inflation, Toomey Blocks Federal Reserve Nominees Best Positioned To Fight Rising Costs
WASHINGTON, DC – As Senator Pat Toomey and other Senate Banking Republicans obstructed a critical vote today on all five of President Biden’s Federal Reserve nominees — in effect keeping the Fed from having a full slate of regulators dedicated to addressing the nation’s inflation challenges — government watchdog Accountable.US released a new analysis recounting the many occasions Toomey publicly sounded the alarm about the inflation and blamed the Biden administration. For instance, in July 2021, Toomey declared that the Federal Reserve should “Focus on an issue that is in its mandate: controlling inflation.”
Senators like Pat Toomey love to wag their finger at President Biden over inflation challenges, yet they refuse to lift a finger to fix them -- or worse, stand in the way of others ready to get to work. They’re delaying Federal Reserve nominees that would be – even by Toomey’s own judgment – well equipped to deal with rising costs. They’ve blocked the Build Back Better plan that includes major investments to iron out the supply chain and help bring costs down. And they’ve given their big corporate donors a free pass to jack up prices on consumers despite posting record profits and rewarding their CEOs and shareholders millions during the pandemic.
The pattern of obstruction suggests Pat Toomey and fellow Senate Republicans would rather slow down the economic recovery to try to hurt this administration politically, but it’s the everyday families that are really paying the price. The wait continues for Toomey, McConnell and company to do something other than play politics with Americans’ pocketbooks.”