Warren: New Fed Chief Subservient to Wall Street

Jan 24, 2018

Sen. Elizabeth Warren (D-MA) took an exceptionally harsh criticism of Jerome Powell, the incoming Chairman of the Federal Reserve, by questioning his independence from financial services lobbyists and questioning whether he would respond to potential outside interference from the banking industry.

Warren voted against Powell’s confirmation on both the Senate Banking Committee—hers was the lone dissenting vote—and in yesterday’s full Senate vote. She used her Facebook page to attack Powell, who was first nominated to the Fed’s Board of Governors in 2012 by President Barack Obama.

“Big banks made record profits and got giant tax giveaways last year,” she said. “But even as they’re rolling in money, their armies of lobbyists and executives have come back, storming Capitol Hill and the halls of the Fed, spinning this story that financial rules are throttling them and need to be cut back. They have an ally in Jerome Powell, who was just confirmed as the new Chair of the Federal Reserve. I voted against him because I believe we need a Fed Chair who will stand up to Wall Street, not roll over and play dead.”

About the author

Phil Hall

Link copied

Published

Jan 24, 2018

Analysis and Data

Saving For A Down Payment Could Take 65 Years — Depending On The Market

Rocket Mortgage found first-time buyers typically put down 5% in some markets and about 30% in others

For many first-time buyers, the biggest obstacle isn't qualifying for a mortgage — it's accumulating enough cash for a down payment. But just how difficult that challenge is depends heavily on where they live.A new Rocket Mortgage analysis found a typical household would nee...

Analysis and Data

Home Prices Hit Another Record Even As Annual Growth Stays Below 1%

First American says limited inventory is keeping prices at historic highs, while luxury homes continue to outperform starter and mid-tier markets

Home prices continued their slow climb to new record highs in May, even as annual appreciation remained below 1% for the ninth straight month, according to the latest Home Price Index from First American Data & Analytics.For loan originators, the latest data reinforce th...

Oct

Denver, CO

More from

Regulation and Compliance

Congress Weighs New Roadmap To End Fannie, Freddie Conservatorship

Rep. Scott Fitzgerald's three-bill housing package would establish a statutory framework for releasing the GSEs while expanding construction lending and easing some TRID compliance requirements

Regulation and Compliance

Jun 30, 2026

CHLA Backs Bank Capital Proposal, Questions Impact On Mortgage Lending

Trade group supports lower mortgage risk weights but says broader market forces — not capital rules — drove banks' retreat from the market

Regulation and Compliance

Jun 24, 2026

Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

Regulation and Compliance

Jun 23, 2026

MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

Regulation and Compliance

Jun 17, 2026

Underwriters Don’t Slow Down Loans. They Eliminate Uncertainty.

ndustry’s biggest bottleneck is not underwriting itself — it is the uncertainty that reaches underwriting too late in the process. When validation happens upstream, speed follows naturally.

Regulation and Compliance

Jun 16, 2026

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

Regulation and Compliance

Jun 11, 2026

Popular