“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
0
Vote Date
April 26, 2022
Vote Counts
YEAs:
52
NAYs:
43
Not Voting:
5
Tammy Baldwin
WI
D
Yea
John Barrasso
WY
R
Nay
Michael Bennet
CO
D
Yea
Marsha Blackburn
TN
R
Nay
Richard Blumenthal
CT
D
Yea
Roy Blunt
MO
R
Nay
Cory Booker
NJ
D
Yea
John Boozman
AR
R
Nay
Mike Braun
IN
R
Nay
Sherrod Brown
OH
D
Yea
Richard Burr
NC
R
Nay
Maria Cantwell
WA
D
Yea
Shelley Moore Capito
WV
R
Nay
Benjamin Cardin
MD
D
Yea
Thomas Carper
DE
D
Yea
Robert Casey
PA
D
NV
Bill Cassidy
LA
R
Nay
Susan Collins
ME
R
Yea
Christopher Coons
DE
D
NV
John Cornyn
TX
R
Nay
Catherine Cortez Masto
NV
D
Yea
Tom Cotton
AR
R
Nay
Kevin Cramer
ND
R
Nay
Mike Crapo
ID
R
Yea
Ted Cruz
TX
R
Nay
Steve Daines
MT
R
Nay
Tammy Duckworth
IL
D
Yea
Richard Durbin
IL
D
Yea
Joni Ernst
IA
R
Nay
Dianne Feinstein
CA
D
Yea
Deb Fischer
NE
R
Nay
Kirsten Gillibrand
NY
D
Yea
Lindsey Graham
SC
R
Yea
Chuck Grassley
IA
R
Nay
Bill Hagerty
TN
R
Yea
Maggie Hassan
NH
D
Yea
Josh Hawley
MO
R
Nay
Martin Heinrich
NM
D
Yea
John Hickenlooper
CO
D
Yea
Mazie Hirono
HI
D
Yea
John Hoeven
ND
R
Nay
Cindy Hyde-Smith
MS
R
Nay
James Inhofe
OK
R
Nay
Ron Johnson
WI
R
Nay
Tim Kaine
VA
D
Yea
Mark Kelly
AZ
D
Yea
John Kennedy
LA
R
Nay
Angus King
ME
I
Yea
Amy Klobuchar
MN
D
Yea
James Lankford
OK
R
Nay
Patrick Leahy
VT
D
Yea
Mike Lee
UT
R
Nay
Ben Lujan
NM
D
Yea
Cynthia Lummis
WY
R
Yea
Joe Manchin
WV
D
Yea
Edward Markey
MA
D
Yea
Roger Marshall
KS
R
Nay
Mitch McConnell
KY
R
Nay
Robert Menendez
NJ
D
Yea
Jeff Merkley
OR
D
Yea
Jerry Moran
KS
R
Nay
Lisa Murkowski
AK
R
Nay
Christopher Murphy
CT
D
NV
Patty Murray
WA
D
Yea
Thomas Ossoff
GA
D
Yea
Alex Padilla
CA
D
Yea
Rand Paul
KY
R
Nay
Gary Peters
MI
D
NV
Rob Portman
OH
R
Nay
Jack Reed
RI
D
Yea
Jim Risch
ID
R
Nay
Mitt Romney
UT
R
Nay
Jacky Rosen
NV
D
Yea
Mike Rounds
SD
R
Yea
Marco Rubio
FL
R
Nay
Bernie Sanders
VT
I
Yea
Ben Sasse
NE
R
Nay
Brian Schatz
HI
D
Yea
Chuck Schumer
NY
D
Yea
Rick Scott
FL
R
Nay
Tim Scott
SC
R
Nay
Jeanne Shaheen
NH
D
Yea
Richard Shelby
AL
R
Nay
Krysten Sinema
AZ
D
Yea
Tina Smith
MN
D
Yea
Debbie Stabenow
MI
D
Yea
Dan Sullivan
AK
R
Nay
Jon Tester
MT
D
Yea
John Thune
SD
R
Nay
Thom Tillis
NC
R
Nay
Pat Toomey
PA
R
Nay
Tommy Tuberville
AL
R
Nay
Chris Van Hollen
MD
D
Yea
Mark Warner
VA
D
Yea
Raphael Warnock
GA
D
Yea
Elizabeth Warren
MA
D
Yea
Sheldon Whitehouse
RI
D
Yea
Roger Wicker
MS
R
Nay
Ron Wyden
OR
D
NV
Todd Young
IN
R
Yea