Source: United States Senator Kevin Cramer (R-ND)
WASHINGTON – U.S. Senator Kevin Cramer (R-ND), member of the Senate Banking Committee, issued the following statement in response to Senator Joe Manchin’s (D-WV) announced opposition to the nomination of Sarah Bloom Raskin to the Federal Reserve Board:
“Once again Senator Joe Manchin shows himself to be a statesman who understands the American economy and the strength of American energy production with his announcement to oppose Sarah Bloom Raskin. This raises awareness that radicals who speak out against fossil fuels and capital investment are out of the mainstream in this country. It is especially important during these times when energy has become a weapon used by despots and dictators. We should instead be using it as a tool for peace, American energy dominance, and economic security.”
Background:
Senator Cramer has been vocal in his concern about Sarah Bloom Raskin’s radical financial philosophy and the ethical cloud surrounding her conduct:
- Morning’s with Maria (Jan. 27): “I have great concerns about Bloom Raskin. In fact, I still have some of the same concerns about Lael Brainard for Vice Chair. Bloom Raskin has been even more radical in terms of approach on climate and fossil fuels.”
- Senate Banking Committee (Feb. 3): “I have great concern about your position and the increased power you want to give to the Federal Reserve as it relates to allocating capital away from legal commerce.”
- Kudlow (Feb. 8): “First of all, there are plenty of reasons to vote against Mrs. Bloom Raskin, not the least of which is the strong view she has about allocating capital away from legal commerce, mainly in the fossil energy area.”
- Squawk Box (Feb. 17): “This issue is very, very serious. This revolving door issue where the Kansas City Federal Reserve changed the decision on offering a master account to her fintech company that she joined after being a Fed Governor and a Treasury official. That’s a serious question that has yet to be answered properly.”
- Squawk Box (March 14): “[Producers] are capital-starved largely based on signals being sent by the Biden Administration on a regular basis. The nomination of various members of the Federal Reserve for example. There’s a chilling effect on every move. It’s a symbol of the larger issue of really bad signals being sent, whether it’s in regulation, taxation, flirting with Maduro in Venezuela or the Ayatollah in Iran to fill the voids.”