“I’m old enough to remember standing in line in 1974 trying to buy gas - I remember those days. “I’m very reluctant to go down the path of electric vehicles,” Manchin told attendees. At the CERAWeek industry conference on March 11, Manchin disdained electric vehicles, the proliferation of which is a key to reducing the West’s reliance on oil. No one could say Manchin doesn’t deliver value for money. In the 2020 election cycle, Viatris added an additional $80,425 to the total. It must be just a coincidence that Mylan was one of Manchin’s top campaign contributors throughout his career, donating more than $358,000 from 2009 through 2018 to him and his political action committee. He’s the leading recipient in the Senate of oil and gas industry contributions, collecting nearly $743,000 in the current election cycle, nearly five times as much as the runner-up, James Lankford (R-Okla.).įor another window into the devotion of Manchin’s family to the public interest, remember that Heather Bresch, whose decision as chief executive of the drug company Mylan to jack up the price of its EpiPen, a life-saving anti-allergy medical device, by nearly 500% bathed her and the company in infamy, is Manchin’s daughter.īresch retired from Mylan in 2020 when the company merged with Upjohn to create a new company named Viatris. Is this the America we want?īut Manchin is a favorite of fossil fuel managements.
The expiration of the Child Tax Credit means 3.7 million more children in poverty. Miles Johnson serves as Government Affairs Manager for the America First Policy Institute (AFPI).Business Column: The blockade of Build Back Better means millions more children condemned to poverty Raskin’s nomination to the Fed conflicts with the idea of an independent Federal Reserve and risks driving up our already rising energy costs. This would provide much-needed relief for Americans at the gas pump and end our reliance on adversaries for our energy needs. should renew efforts to ensure we are energy independent. The Fed should not be used by those serving on its board to advocate for a radical far-Left agenda.Īmid rising gas prices and the ongoing crisis in Ukraine, the U.S. Toomey believes, it is important that whoever serves be impartial to the industries they regulate. Such actions not only threaten both the Fed’s independence and effectiveness but would also weaken economic growth. Pat Toomey (R-PA), Ranking Member of the Senate Banking Committee, recently commented that if confirmed, Raskin “ would abuse the Fed’s narrow statutory mandates on monetary policy to have the central bank actively engaged in capital allocation. Choosing favored industries to funnel capital to, based on personal political desires, would be a radical move for a nominee to the Federal Reserve.
It is certainly not the role of those serving on the Fed to go after a specific industry to achieve an unrelated political desire, which is what Raskin seems to want to do by acting as a climate change advocate. banking system and money supply to ensure low, stable inflation and support strong economic growth.
However, activist intervention is not part of the mission of the Federal Reserve, which is instead tasked with regulating the U.S. At issue here is that Raskin, as an unelected bureaucrat, wants to divert capital from fossil fuel companies. ” Raskin believes that the central bank should weaponize stress testing to go after the oil and gas industry, regarding it as a financial regulatory tool that regulators should use to penalize banks serving fossil fuel companies. Raskin claims that financial institutions, including the central bank, need to be used to move our Nation into a “ net-zero economy and away from climate change disaster.
oil and gas companies shows a commitment to an ideology that defies practical judgment, considering the record-high energy prices we are facing in this country and is an inaccurate view of the Federal Reserve’s duty as the key regulator of our Nation’s banks. Raskin’s longstanding and recent attack on U.S. Unfortunately, Raskin’s recent public statements underscore a desire to transform the Fed into a politicized institution of climate change advocacy at a time of 40-year high inflation and record-high energy prices for American families. financial system and become a pivotal voice in setting interest rates for our Nation’s banks. If confirmed, Raskin would be put in charge of regulating the U.S. President Joe Biden recently nominated Sarah Bloom Raskin to serve as Vice Chair for Supervision of the Board of Governors of the Federal Reserve System.
0 kommentar(er)
