Progressives call on Biden to replace Powell as Federal Reserve chair
CBSN
A group of progressive lawmakers led by Congresswoman Alexandria Ocasio-Cortez is calling on President Biden to replace Federal Reserve Chairman Jerome Powell, whose term expires early next year. The lawmakers said Powell, who has served as head of the Central Bank since 2018, has not done enough to address the risks of climate change on the financial system and has weakened regulations.
"At a time when the Intergovernmental Panel on Climate Change is warning of the potential catastrophic and irreversible damage inflicted by a changing climate, we need a leader at the helm that will take bold and decisive action to eliminate climate risk," wrote the group of lawmakers, which includes Representatives Ayanna Pressley of Massachusetts, Rashida Tlaib of Michigan, Jesus Garcia of Illinois and Mondaire Jones of New York. At the same time, the group accused Powell of "substantially" weakening reforms made in the wake of the Great Recession to regulate big banks.Five people boarded OceanGate's Titan submersible last summer to dive down to see the wreckage of the Titanic, but less than two hours later, the vessel imploded, killing all on board. Now, a billionaire from Ohio wants to make his own attempt – an idea he had just days after the Titan met its fatal end.
Authorities made two gruesome discoveries Tuesday after a Missouri woman walked into a police station and told officers that she fatally shot one of her children and drowned the other, officials said. Jefferson County Sheriff Dave Marshak said at a news conference that authorities believe both children were killed Tuesday morning.