{"id":577160,"date":"2021-06-30T10:20:34","date_gmt":"2021-06-30T14:20:34","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=577160"},"modified":"2021-06-30T10:20:40","modified_gmt":"2021-06-30T14:20:40","slug":"top-gop-senator-rips-federal-reserve-for-not-complying-with-congressional-probe-into-woke-mission-creep","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-gop-senator-rips-federal-reserve-for-not-complying-with-congressional-probe-into-woke-mission-creep\/","title":{"rendered":"Top GOP Senator Rips Federal Reserve For Not Complying With Congressional Probe Into \u2018Woke Mission Creep\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/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%2Ftop-gop-senator-rips-federal-reserve-for-not-complying-with-congressional-probe-into-woke-mission-creep%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=577160&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--><p>The top Republican on the Senate Banking Committee sent scathing letters to four Federal Reserve banks Wednesday morning, ripping them for ignoring congressional oversight.<\/p>\n<p>Sen. Pat Toomey accused the Federal Reserve Banks of <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/toomey_non-compliance_letter_to_san_francisco_fed.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">San Francisco<\/a>, <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/toomey_non-compliance_letter_to_minneapolis_fed.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Minneapolis<\/a>, <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/toomey_non-compliance_letter_to_boston_fed.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Boston<\/a> and <a href=\"https:\/\/www.banking.senate.gov\/imo\/media\/doc\/toomey_non-compliance_letter_to_atlanta_fed.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Atlanta<\/a> of ignoring his investigation into their recent ventures into research related to environmental, social and governance topics. None of the banks have provided the documents that Toomey requested they submit to him by June 7 as part of the probe.<\/p>\n<p>\u201c[Your] refusal to provide any documents responsive to the request is an unacceptable stonewalling of Congress\u2019s need to fully evaluate the recent and sudden departure of the [bank] from its important, nonpartisan, and statutorily defined mission to \u2018promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates,&#8217;\u201d Toomey wrote in the four letters Wednesday.<\/p>\n<p>\u201cThis is particularly troubling given the various ways in which the [bank] lacks both transparency and accountability in carrying out its statutory mandate,\u201d the letters continued. <strong><a href=\"https:\/\/dailycaller.com\/2021\/05\/24\/republicans-federal-reserve-woke-mission-creep-racism-social-justice\/\" target=\"_blank\" rel=\"noopener noreferrer\">(RELATED: Senate Republicans Expand Investigation Into \u2018Woke Mission Creep\u2019 Of Federal Reserve)<\/a><\/strong><\/p>\n<p>Toomey <a href=\"https:\/\/dailycaller.com\/2021\/03\/29\/san-francisco-federal-reserve-jerome-powell-pat-toomey\/\" target=\"_blank\" rel=\"noopener noreferrer\">first initiated<\/a> the investigation into the Federal Reserve\u2019s \u201cwoke mission creep\u201d on March 29, citing the central bank\u2019s increasing interest in social justice issues unrelated to its purpose. He <a href=\"https:\/\/dailycaller.com\/2021\/05\/24\/republicans-federal-reserve-woke-mission-creep-racism-social-justice\/\" target=\"_blank\" rel=\"noopener noreferrer\">expanded<\/a> the probe, which is now reviewing research and events held by the San Francisco, Minneapolis, Boston and Atlanta banks, in May.<\/p>\n<div id=\"attachment_7226769\" class=\"wp-caption alignnone\" readability=\"32\"><img decoding=\"async\" aria-describedby=\"caption-attachment-7226769\" loading=\"lazy\" class=\"size-full wp-image-7226769\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-scaled-1.jpg\" alt=\"Sen. Pat Toomey speaks during a news conference on May 27. (Chip Somodevilla\/Getty Images)\" srcset=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-scaled-1.jpg 2560w, https:\/\/cdn01.dailycaller.com\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-180x120.jpg 180w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-620x413-1.jpg 620w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-768x512-1.jpg 768w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-1536x1024-1.jpg 1536w, https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-2048x1366-1.jpg 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<p id=\"caption-attachment-7226769\" class=\"wp-caption-text\">Sen. Pat Toomey speaks during a news conference on May 27. (Chip Somodevilla\/Getty Images)<\/p>\n<\/div>\n<p>The Pennsylvania senator requested the banks share records, memoranda and emails related to several identified social justice events. For example, the Federal Reserve Bank of Minneapolis has <a href=\"https:\/\/www.minneapolisfed.org\/policy\/racism-and-the-economy\" target=\"_blank\" rel=\"noopener noreferrer\">planned<\/a> a \u201cRacism and the Economy\u201d event series while the Federal Reserve Bank of Boston <a href=\"https:\/\/www.bostonfed.org\/publications\/invested\/2020\/feature-four.aspx\" target=\"_blank\" rel=\"noopener noreferrer\">produced<\/a> a film series titled \u201cThe Reckoning: When a Pandemic Collides with Systemic Racism.\u201d<\/p>\n<p>\u201cThe Fed\u2019s complete refusal to turn over a single document naturally begs the question: what is the Fed trying to hide? From woke speech codes to their dalliance with critical race theory, it appears liberal activists have taken over at some of the regional Fed banks,\u201d a Congressional GOP aide told the Daily Caller News Foundation on Wednesday.<\/p>\n<p>\u201cWith the price of everything from gasoline to homes skyrocketing, and inflation becoming a bigger concern, I think it\u2019s fair for the American people to want to know what in the world the Fed is doing,\u201d the aide added.<\/p>\n<p>Toomey said that if the banks continue to refuse sharing the requested documents, Congress may need to create new transparency and accountability laws in his letters to the four banks on Wednesday.<\/p>\n<p>\u201cTransparency and openness are essential in both promoting a greater understanding of the [bank\u2019s] mission and actions and also in maintaining public trust,\u201d Toomey wrote. \u201cHowever, it appears that the [bank] prefers to cloak its activities in secrecy and withhold documents from both Congress and the American people.\u201d<\/p>\n<p>Earlier this month, meanwhile, a group of 42 economists <a href=\"https:\/\/www.nationalreview.com\/2021\/06\/an-open-letter-of-concern-about-federal-reserve-overreach\/\" target=\"_blank\" rel=\"noopener noreferrer\">published a public letter<\/a> in National Review, expressing concern with the Fed\u2019s recent shift toward political topic areas. They argued the the central bank\u2019s behavior makes it \u201cincreasingly sensitive to political interference.\u201d<\/p>\n<p>The economists wrote that the Fed\u2019s recent activity weakens its credibility and independence.<\/p>\n<p>Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact <a href=\"mailto:licensing@dailycallernewsfoundation.org\">licensing@dailycallernewsfoundation.org<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The top Republican on the Senate Banking Committee sent scathing letters to four Federal Reserve banks Wednesday morning, ripping them for ignoring congressional oversight.Sen. Pat Toomey accused the Federal Reserve &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2313720,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-scaled-1.jpg","fifu_image_alt":"Top GOP Senator Rips Federal Reserve For Not Complying With Congressional Probe Into \u2018Woke Mission Creep\u2019","footnotes":""},"categories":[],"tags":[],"class_list":["post-577160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/GettyImages-1320336233-1-scaled-1.jpg","fifu_image_alt":"Top GOP Senator Rips Federal Reserve For Not Complying With Congressional Probe Into \u2018Woke Mission Creep\u2019","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/577160","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=577160"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/577160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2313720"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=577160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=577160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=577160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}