An economist tapped by President Donald Trump to join the Federal Reserve’s Board of Governors narrowly survived a procedural vote on Thursday, advancing his nomination to the full US Senate.
The 13-12 party-line vote by the Senate Banking Committee suggests Republicans may have difficulty corralling enough votes to confirm Marvin Goodfriend to a seat at the Fed.
A conservative professor of economics at Carnegie Mellon University, Goodfriend has faced stiff opposition from Democrats who say he is not sufficiently concerned with fighting unemployment.
In confirmation hearings last month, Goodfriend struggled to defend prior predictions, which were never borne out, of runaway inflation during the recovery from 2008-2010 Great Recession.
“We can’t take a chance on someone with a decade-long record of prioritizing hypothetical inflation over real people losing real jobs,” Senator Sherrod Brown of Ohio, the committee’s ranking Democrat, said prior to Thursday’s vote.
Brown also said Goodfriend supported deregulation efforts that would favor large banks who have harmed their customers and the economy.
Kentucky Senator Rand Paul, a Republican, on Thursday announced his intention to oppose Goodfriend’s nomination, leaving it precariously balanced in the full Senate.
With Arizona Republican John McCain currently battling cancer and Paul opposed, a single additional Republican “no” vote could sink the nomination.
Millennials are moving to Trump-backing states — and the GOP should be terrified: columnist
Millennial voters are substantively more progressive than older generations of voters, but their political power has been diluted by the fact that many of them have been concentrated in cities in deep-blue states.
However, The Atlantic's Derek Thompson argues that this is about to change because more millennials are leaving the big blue-state cities to move out to metro areas in key states such as Arizona, Georgia and Texas.
"The five fastest-growing metros of the past few years -- Dallas, Phoenix, Houston, Atlanta, and Orlando, Florida -- are in states won by Trump," he writes. "The other metro areas with a population of at least 1 million that grew by at least 1.5 percent last year were Las Vegas; Austin, Texas; Orlando, Florida; Raleigh, North Carolina; Jacksonville, Florida; Charlotte, North Carolina; San Antonio; Tampa, Florida; and Nashville, Tennessee. All of those metros are in red or purple states."
‘The man who sold America’: Mitch McConnell’s mountain of political sins catalogued in devastating new profile
Mitch McConnell finally has the power he's longed for since he was a 22-year-old intern for Sen. John Sherman, but his ruthless march to become Senate majority leader has seen him abandon almost all of his stated principles -- and earned him a lot of enemies.
The Kentucky Republican has been unpopular in his home state for years, but this summer has seen his approval rating plunge to 18 percent after MSNBC's Joe Scarborough tarred and feathered him with the nickname "Moscow Mitch," and he's increasingly seen as "the man who sold America," reported Rolling Stone.
Sarah Sanders rages on Fox News that the ‘out-of-control’ media is ‘making stuff up’ about Trump
In her new gig as a Fox News contributor, former White House spokesperson Sarah Huckabee Sanders complained to host Sean Hannity that the "out-of-control" media makes "stuff up" about Donald Trump because they hate him for winning in 2016.
Sanders, who once told reporters that "countless" FBI agents had lost confidence in James Comey only to later tell investigators from special counsel Robert Mueller's office that she made it up, complained to the Fox host about the press being untrustworthy.