Vermont’s Senator Bernie Sanders advises Obama on Federal Reserve pick
BURLINGTON, Vt. — US Senator Bernie Sanders says he hopes President Barack Obama’s choice for the next person to head the Federal Reserve will be an advocate for the middle class.
The Vermont independent recommended two people popular with the left who he says would make excellent candidates for the job when current Fed Chairman Ben Bernanke’s term expires next Jan. 31.
Sanders says he believes either Nobel Prize-winning economist Joseph Stiglitz or former US Labor Secretary Robert Reich would pursue a policy of full employment and put the needs of the middle class over those of Wall Street.
Sanders says the United States is facing a major crisis of unemployment and under-employment and that the Fed needs to address it with the same urgency it showed after the financial crisis in 2008.