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