WASHINGTON, D.C. – Congressman Blaine Luetkemeyer (MO-03), Ranking Member on the Consumer Protection & Financial Institutions Subcommittee joined Congressman Andy Barr (KY-06), Congressman Bill Huizenga (MI-02), Congressman French Hill (AR-02) in sending a letter to Federal Reserve Chairman Jerome Powell detailing their concerns about President Biden’s nominee for Vice-Chair of Supervision of the Federal Reserve, Sarah Bloom Raskin, and her radical statements on climate finance.

“The role of the Federal Reserve is not to dictate consumer demand, nor is it to determine 
which industries are worthy of capital and which should be starved of financing. The 
primary responsibilities of the Federal Reserve are to promote full employment and stable 
prices, and to ensure the safety and soundness of the financial system. The Federal 
Reserve’s role is not to advance certain environmental policies, and is certainly not to bias 
the allocation of capital against entire legal industries,” the Members wrote.  
“We encourage you to continue to focus the Federal Reserve on its core missions around 
monetary policy, financial stability and supervision of financial firms, and ensure that any 
focus by on climate change remains within the Board’s narrow congressional mandate.”