“NO” on Confirmation of Lael Brainard
The Club for Growth opposes the confirmation of Lael Brainard to be Vice Chairman of the Board of Governors of the Federal Reserve, and urges all Senators to vote NO. A vote is likely to occur soon. The results of this vote will be included in the Club for Growth Foundation’s 2022 congressional scorecard.
The Federal Reserve’s Board of Governors is expected to be comprised of nonpartisan, highly qualified individuals that lead the central bank implementing America’s monetary policy. Yet at the time of historic levels of inflation, the Biden administration has nominated a partisan radical to be Vice Chairman. Brainard’s political activity surrounding the Presidential Campaign of Hillary Clinton is evidence she was angling for a quid pro quo and “pay to play” to receive a nomination to be the Chairman of the Federal Reserve as far back as 2016. Six years later, President Biden has rewarded her partisan loyalty with this nomination.
On policy, Brainard’s views and positions are alarming. Her inability to embrace capitalism or reject socialism shows she will not be a nonpartisan voice on the Board of Governors but will be a radical liberal. Club for Growth is highly concerned about new regulations from the Federal Reserve, and Brainard’s experience proves she will increase regulatory burdens that stifle economic growth. She’s also been an activist on global warming. The Fed should not have an environmental activist pushing Green New Deal policies, but should be focused firmly on monetary policies that create, sustain, and embrace economic freedom.
Brainard is wrong about U.S. inflation. The inflation America is currently experiencing is not “transitory” but is an economic reaction to Biden’s policies that are pushing America closer to an economic recession every day. Brainard’s refusal to take the inflation threat seriously jeopardizes the economic recovery necessary to stabilize the U.S. economy.
Finally, Brainard has pushed for the U.S. to create a cryptocurrency and digital dollar backed by the Central Bank. This is a terrible idea. Free markets are why innovative cryptocurrencies are awesome. The best way to compete with China’s digital currency would be to embrace free markets, not to involve government in creating a so-call competitor.
Club for Growth Foundation’s Congressional Scorecard for the 117th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to the public.
Vote Results
Club Position
No
Required for Majority
1/2
Vote Results
Passed
Vote Number
136
Vote Date
April 26, 2022
Vote Counts
YEAs:
0
NAYs:
0
Not Voting:
100
Tammy Baldwin
WI
D
Y
John Barrasso
WY
R
N
Michael Bennet
CO
D
Y
Marsha Blackburn
TN
R
N
Richard Blumenthal
CT
D
Y
Roy Blunt
MO
R
N
Cory Booker
NJ
D
Y
John Boozman
AR
R
N
Mike Braun
IN
R
N
Sherrod Brown
OH
D
Y
Richard Burr
NC
R
N
Maria Cantwell
WA
D
Y
Shelley Moore Capito
WV
R
N
Benjamin Cardin
MD
D
Y
Thomas Carper
DE
D
Y
Bob Casey
PA
D
A
Bill Cassidy
LA
R
N
Susan Collins
ME
R
Y
Christopher Coons
DE
D
A
John Cornyn
TX
R
N
Catherine Cortez Masto
NV
D
Y
Tom Cotton
AR
R
N
Kevin Cramer
ND
R
N
Mike Crapo
ID
R
Y
Ted Cruz
TX
R
N
Steve Daines
MT
R
N
Tammy Duckworth
IL
D
Y
Richard Durbin
IL
D
Y
Joni Ernst
IA
R
N
Dianne Feinstein
CA
D
Y
Deb Fischer
NE
R
N
Kirsten Gillibrand
NY
D
Y
Lindsey Graham
SC
R
Y
Chuck Grassley
IA
R
N
Bill Hagerty
TN
R
Y
Maggie Hassan
NH
D
Y
Josh Hawley
MO
R
N
Martin Heinrich
NM
D
Y
John Hickenlooper
CO
D
Y
Mazie Hirono
HI
D
Y
John Hoeven
ND
R
N
Cindy Hyde-Smith
MS
R
N
James Inhofe
OK
R
N
Ron Johnson
WI
R
N
Tim Kaine
VA
D
Y
Mark Kelly
AZ
D
Y
John Kennedy
LA
R
N
Angus King
ME
I
Y
Amy Klobuchar
MN
D
Y
James Lankford
OK
R
N
Patrick Leahy
VT
D
Y
Mike Lee
UT
R
N
Ben Lujan
NM
D
Y
Cynthia Lummis
WY
R
Y
Joe Manchin
WV
D
Y
Edward Markey
MA
D
Y
Roger Marshall
KS
R
N
Mitch McConnell
KY
R
N
Robert Menendez
NJ
D
Y
Jeff Merkley
OR
D
Y
Jerry Moran
KS
R
N
Lisa Murkowski
AK
R
N
Christopher Murphy
CT
D
A
Patty Murray
WA
D
Y
Thomas Ossoff
GA
D
Y
Alex Padilla
CA
D
Y
Rand Paul
KY
R
N
Gary Peters
MI
D
A
Rob Portman
OH
R
N
Jack Reed
RI
D
Y
Jim Risch
ID
R
N
Mitt Romney
UT
R
N
Jacky Rosen
NV
D
Y
Mike Rounds
SD
R
Y
Marco Rubio
FL
R
N
Bernie Sanders
VT
I
Y
Ben Sasse
NE
R
N
Brian Schatz
HI
D
Y
Chuck Schumer
NY
D
Y
Rick Scott
FL
R
N
Tim Scott
SC
R
N
Jeanne Shaheen
NH
D
Y
Richard Shelby
AL
R
N
Krysten Sinema
AZ
D
Y
Tina Smith
MN
D
Y
Debbie Stabenow
MI
D
Y
Dan Sullivan
AK
R
N
Jon Tester
MT
D
Y
John Thune
SD
R
N
Thom Tillis
NC
R
N
Pat Toomey
PA
R
N
Tommy Tuberville
AL
R
N
Chris Van Hollen
MD
D
Y
Mark Warner
VA
D
Y
Raphael Warnock
GA
D
Y
Elizabeth Warren
MA
D
Y
Sheldon Whitehouse
RI
D
Y
Roger Wicker
MS
R
N
Ron Wyden
OR
D
A
Todd Young
IN
R
Y