{"id":1214720,"date":"2022-01-13T16:34:40","date_gmt":"2022-01-13T21:34:40","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1214720"},"modified":"2022-01-13T16:34:44","modified_gmt":"2022-01-13T21:34:44","slug":"flashback-bidens-fed-reserve-nom-wont-say-if-shes-a-capitalist-or-socialist","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/flashback-bidens-fed-reserve-nom-wont-say-if-shes-a-capitalist-or-socialist\/","title":{"rendered":"Flashback: Biden\u2019s Fed Reserve Nom Won\u2019t Say If She\u2019s a Capitalist or Socialist"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fflashback-bidens-fed-reserve-nom-wont-say-if-shes-a-capitalist-or-socialist%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1214720&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-1237699425_736x514.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>The Biden administration&#8217;s nominee for the number two slot at the Federal Reserve refused to tell lawmakers if she is a capitalist or a socialist.<\/p>\n<p>Lael Brainard, a Federal Reserve governor and former Obama administration appointee whom President Joe Biden nominated to serve as the central bank&#8217;s new vice chair, is facing pushback from conservative advocacy groups for her controversial statements about China, including a claim that China is &#8220;formerly communist,&#8221; and her refusal in 2019 to come clean about her political views when testifying before Congress. Brainard also has a history of tax evasion.<\/p>\n<p>Brainard, who was grilled at a Senate <a href=\"https:\/\/www.banking.senate.gov\/hearings\/01\/04\/2022\/nomination-hearing-1\" target=\"_blank\" rel=\"noopener\">confirmation hearing<\/a> early Thursday, generated waves in 2019 when she declined on three separate occasions to tell lawmakers if she is a capitalist or a socialist.<\/p>\n<p>&#8220;Are you a capitalist or a socialist?&#8221; Brainard was asked by Rep. Roger Williams (R., Texas) during a September 2019 <a href=\"https:\/\/www.youtube.com\/watch?v=5HBglBowHZM&amp;t=5681s\" target=\"_blank\" rel=\"noopener\">hearing<\/a> by the House Committee on Financial Services.<\/p>\n<p>&#8220;Thank you for your question,&#8221; Brainard replied. &#8220;I view markets that are well regulated, that are competitive, as providing really important benefits in terms of innovation and dynamism.&#8221;<\/p>\n<p>&#8220;Well, are you a capitalist or socialist?&#8221; Williams replied.<\/p>\n<p>Brainard again deflected the question, saying, &#8220;Markets that are well regulated, where we&#8217;ve seen strong competition, I certainly have seen important benefits.&#8221;<\/p>\n<p>&#8220;Are you a capitalist or socialist?&#8221; Williams pressed again.<\/p>\n<p>&#8220;I don&#8217;t really think about it in those terms,&#8221; Brainard said.<\/p>\n<p>Williams posed the same question to Dino Falaschetti, director of the Office of Financial Research at the time who was testifying alongside Brainard. Falaschetti quickly answered: &#8220;I am a capitalist.&#8221;<\/p>\n[embedded content]\n<p>Brainard also has a spotty track record when it comes to paying her taxes: She was late with her property taxes four years in a row, late paying her taxes on 11 different occasions, and was forced to revise one of her tax filings after Senate investigators found she was &#8220;taking on an overly generous deduction,&#8221; according to <a href=\"https:\/\/www.bidennoms.com\/news\/1456\/lael-brainards-transparency-with-household-employees\" target=\"_blank\" rel=\"noopener\">information<\/a> published by BidenNoms.com, a watchdog site focused on the White House&#8217;s candidates for top positions. Her track record is likely to raise concerns with Republicans as she tries to win confirmation in the narrowly Democratic-controlled Senate.<\/p>\n<p>In addition to her past tax issues and troubles before Congress, Brainard claimed in a 2007 research <a href=\"https:\/\/www.aspeninstitute.org\/wp-content\/uploads\/files\/content\/docs\/asg\/CMTCFINAL052307.PDF\" target=\"_blank\" rel=\"noopener\">paper<\/a> on China&#8217;s global rise issued by the Aspen Institute that the CCP is &#8220;formerly communist&#8221; and has a &#8220;communist past.&#8221;<\/p>\n<p>&#8220;Heavy state control of this formerly communist economy has been withdrawn unevenly, so that much of the state-controlled banking sector continues to direct credit primarily to SOEs,&#8221; wrote Brainard, who was working at the Brookings Institution, a liberal think tank. &#8220;However, China&#8217;s primary point of uniqueness long predates its communist past.&#8221;<\/p>\n<p>Brainard, during her time at Brookings, also <a href=\"https:\/\/twitter.com\/bidennoms\/status\/1478847456209260550\" target=\"_blank\" rel=\"noopener\">proposed<\/a> raising taxes on airline tickets to help fund United Nations climate change programs.<\/p>\n<p>Matt Buckham, founder of the American Accountability Foundation, a conservative advocacy group, told the <em>Free Beacon<\/em> that Brainard is a bad fit for the Federal Reserve post and should be closely examined by senators in charge of confirming her.<\/p>\n<p>&#8220;Lael Brainard spends her time carrying water for the Chinese Communist Party, who run slave labor camps and hold the United States in contempt for our way of life. She&#8217;s even going so far as trying to erase the fact that they are communists,&#8221; Buckham said. &#8220;By any metric, Brainard is a bizarre pick for the Biden administration for a post at the Federal Reserve since her first nomination under Obama was marred because she couldn&#8217;t even pay her taxes on time.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Biden administration&#8217;s nominee for the number two slot at the Federal Reserve refused to tell lawmakers if she is a capitalist or a socialist. Lael Brainard, a Federal Reserve &#8230;<\/p>\n","protected":false},"author":117,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1214720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1214720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/117"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1214720"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1214720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1214720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1214720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1214720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}