Brian4Liberty
11-25-2013, 04:17 PM
Heritage will score the Yellin confirmation vote as part of their Congressional rating system. A vote for Yellin will result in a negative mark.
Janet Yellen’s nomination to take over the Federal Reserve ran into conservative opposition on Monday as the advocacy arm of the Heritage Foundation urged senators to vote against her.
Heritage Action announced Monday that it would include a vote on Yellen’s nomination, which is expected to take place in December, on its congressional scorecard. A vote in favor of Yellen will be rated negatively.
The group argues Yellen has failed to present a plan to wind down the Fed’s massively expanded portfolio and said that is reason for the Senate to block her nomination.
The Fed has faced heavy GOP scrutiny as Chairman Ben Bernanke, with Yellen’s backing, has led the central bank to take unprecedented steps to boost the economy. Interest rates have been kept near zero for years, and the Fed is buying billions of dollars a month in bonds in an effort to further lower rates and boost lending.
Conservatives have warned this accommodative policy is ineffective and carries significant dangers when it comes time to remove that stimulus. Fed officials are preparing to begin slowing the support in the coming months.
More:
http://thehill.com/blogs/on-the-money/economy/191368-heritage-action-urges-senate-to-oppose-yellen
Janet Yellen’s nomination to take over the Federal Reserve ran into conservative opposition on Monday as the advocacy arm of the Heritage Foundation urged senators to vote against her.
Heritage Action announced Monday that it would include a vote on Yellen’s nomination, which is expected to take place in December, on its congressional scorecard. A vote in favor of Yellen will be rated negatively.
The group argues Yellen has failed to present a plan to wind down the Fed’s massively expanded portfolio and said that is reason for the Senate to block her nomination.
The Fed has faced heavy GOP scrutiny as Chairman Ben Bernanke, with Yellen’s backing, has led the central bank to take unprecedented steps to boost the economy. Interest rates have been kept near zero for years, and the Fed is buying billions of dollars a month in bonds in an effort to further lower rates and boost lending.
Conservatives have warned this accommodative policy is ineffective and carries significant dangers when it comes time to remove that stimulus. Fed officials are preparing to begin slowing the support in the coming months.
More:
http://thehill.com/blogs/on-the-money/economy/191368-heritage-action-urges-senate-to-oppose-yellen