Biden Pick for Bank Regulator Proposed Fed Take Over Banking, Manipulate Stock Prices

Biden Pick for Bank Regulator Proposed Fed Take Over Banking, Manipulate Stock Prices
The Federal Reserve building in Washington, on Oct. 22, 2021. Daniel Slim/AFP via Getty Images
Petr Svab
Updated:
News Analysis

In Saule Omarova’s world, America only really needs one bank—the Federal Reserve. Omarova, President Joe Biden’s nominee to be one of the top banking regulators, has proposed such drastic expansion of government control over finance that it’s leaving some experts scratching their heads over whether the administration is serious about her nomination.

Petr Svab
Petr Svab
reporter
Petr Svab is a reporter covering New York. Previously, he covered national topics including politics, economy, education, and law enforcement.
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