Sen. Brown’s Five-Point Mandate for the Federal Reserve
The profound differences between the Trump and Biden Administrations obscure a still more fundamental shift in the power balance: many Democrats have abandoned the centrist – some would say corporatist – policies of the Clinton and Obama Administrations. No one epitomizes this transformation better than Senate Banking Chairman Brown and thus no institution is under more political pressure than the Federal Reserve. Sen. Brown has a five-point mandate for the U.S. central bank, one that would redesign not just central banking, but also financial regulation. A divided Senate means he can’t enact it, but Sen. Brown’s powerful position still means he can insist on it.
