Sanders Votes No as Senate Confirms Federal Reserve Board Nominees

WASHINGTON, June 12 – Sen. Bernie Sanders (I-Vt.) issued the following statement today after he opposed three of President Barack Obama’s nominees for positions on the Federal Reserve Board of Governors:

“Congress requires the Fed to maximize employment and minimize inflation. At a time when real unemployment in the United States is more than 12 percent, it is clear that the Fed is not doing enough to help create the millions of decent-paying jobs that Americans desperately need.  We need Fed governors who will act with a fierce sense of urgency to address the unemployment crisis that our nation faces. 

“We also need tough financial regulators who will stop the reckless gambling on Wall Street and prevent another financial crisis from happening again. We need the Fed to stand up to Wall Street and their powerful lobbyists and fight for policies that protect the working families in our country. 

“I do not believe that any of these nominees fit that bill.”