Senator Kim Statement on Unprecedented, Dangerous Party Line Vote to Advance Trump Fed Chair Pick

WASHINGTON, D.C. – Today, Senator Andy Kim (D-NJ), member of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement after Republican members of the Senate Banking Committee voted to advance Kevin Warsh, President Trump’s nominee for Chair of the Federal Reserve. This is the first-ever partisan party line committee vote for Chair of the Federal Reserve in the Committee’s history.

“Let’s call this out for exactly what it is: a corrupt scheme by Donald Trump to manipulate the Fed to work for him, and not the American people. And Senate Republicans are helping him get away with it. 

“This vote never should have happened. Trump admitted himself this week that the bogus investigation against Jerome Powell is ‘not dropped.’ Congress should not be moving ahead on any nomination as this President levies personal and political attacks to try and bully the Fed into voting the way he wants. 

“Trump's continued assault of the Fed’s independence is a direct risk to our economy and Americans’ financial security. When Warsh’s nomination comes before the full Senate, every member should use their vote to stop this corrupt attempt to take control of the Fed.”