Republican senator accuses Fed of politicising research

The Federal Reserve Bank of San Francisco
The Federal Reserve Bank of San Francisco
Shell Jiang

Pat Toomey, the ranking Republican on the Senate banking committee, has accused the Federal Reserve Bank of San Francisco of conducting research projects with a partisan bias.

In a letter to San Francisco Fed president Mary Daly, dated March 29, Toomey alleged these constituted “politically charged research on environmental, social, and governance (ESG) topics like climate change and racial justice”.

In the letter, Toomey asked that the San Francisco Fed’s senior policy adviser, Glenn

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