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Programming note: We’re off the rest of the week for Thanksgiving. We hope you and your family have a wonderful holiday.

Here’s what we’re talking about:

Biden backing Powell to chair the Fed is another stiff arm to progressive Democrats
The suspect in the Wisconsin parade deaths was released on what a district attorney called ‘inappropriately low’ bail weeks ago
Rural Democrats are freaking out about their party’s apathy toward flyover-state voters entering the 2022 midterms

Sen. Elizabeth Warren and Federal Reserve Chairman Jerome Powell.

1. ON YOUR LEFT?: President Joe Biden handed another setback to a group of progressive lawmakers with his decision to renominate Jerome Powell to lead the Federal Reserve. Biden said he made his pick to bolster the Fed’s independence and provide certainty to markets. But his decision further rankles many progressives who have begun to criticize the administration as being too centrist in its approach.

Here’s what else you need to know:

Progressives tried for months to derail Powell’s second term: A group of House Democrats including Alexandria Ocasio-Cortez and Rashida Tlaib wrote to the White House about what they viewed as Powell’s failures to address the climate crisis and economic inequality. Sen. Elizabeth Warren deemed Powell a “dangerous man” for his handling of financial-sector regulation.

Powell is expected to breeze through his confirmation: Powell, a Republican, was initially nominated by President Donald Trump and is expected to receive broad bipartisan support for a second term, The New York Times reports.

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Powell’s renomination is the latest setback for progressives: The White House and congressional leadership forced liberal lawmakers to stomach a $1.75 trillion social-spending bill after promising a $3.5 trillion plan for months. Biden has ignored the progressive push to cancel student debt. And the president has been unable to move Congress to pass a $15-an-hour federal minimum wage or take sweeping action on voting rights.

Key quote: “And this is where I have sounded the alarm, because what really dampens turnout is when Democrats make promises that they don’t keep,” Ocasio-Cortez told The New York Times of how “demoralizing” the process of passing Biden’s spending plan had been for many. Ocasio-Cortez said if Democrats didn’t pass the Build Back Better plan soon, then leaders would struggle to get progressives’ votes on other legislation.

2. A look at Democrats’ plan to win back rural America: Ahead of crucial midterm elections next year, RuralVote.org, the super PAC run by the former Iowa congressional candidate J.D. Scholten, criticized the three major Democratic campaign arms for their lack of investment in what they argued was a key voting bloc, according to a memo obtained exclusively by Insider. In the memo, Scholten called for “year-round on-the-ground organizing to help with party infrastructure and candidate …read more

Source:: Business Insider


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