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President Biden is nearing a decision on a Federal Reserve Chair nomination, but the Revolving Door Project’s work will not end with the conclusion of the reappointment fight.

It is very possible that President Biden will show up empty-handed to COP26 in Glasgow next week. And that isn’t just because of the apocalyptic vanity of two Senators from Arizona and West Virginia. Many executive-led policies that are just a matter of political will have not been done, and some of those which have are pure paper tigers. Biden’s administration failed last week to take advantage of a lesser known, but extremely meaningful climate action opportunity. The Financial Stability Oversight Council (FSOC) released its long-awaited report on climate-related financial risk, which the President personally ordered months ago. And it was a complete flop. 

We hope that these one-pagers help political professionals, the press, and onlookers to better understand the facts surrounding the reappointment debate.

“It’s extremely disappointing to see this long-awaited report be so watered down by what can only be described as climate apathetic FSOC members.”

It was never a secret that Attorney General Merrick Garland was among the key Biden administration figures opposing Jonathan Kanter’s nomination as assistant attorney general for antitrust. Ultimately, however, Garland did not get his way; the appointment went to Kanter rather than to one of the many Big Tech–allied BigLaw partners whom Garland favored. In view of Kanter’s career as a plaintiff’s lawyer, his nomination was rightly celebrated as a decisive victory by antitrust reformers and BigLaw opponents alike. But it was just one battle in a broader war for renewed anti-monopoly enforcement and a DOJ eager to build back better in every policy area.

It’s highly probable that Powell guessed in advance that October would be a rough month for stocks, and made a multi-million dollar choice to get out.

Biden’s agenda are falling victim to arcane Senate rules, and not just the filibuster. Dysfunction is slowing the Senate confirmation process to a crawl too, producing a backlog hundreds of nominees deep. For as long as these delays keep permanent officials out of their intended roles, they will limit the scope and ambition of the Biden administration’s agenda. Senate Democrats must act to change them. 

Califf coordinates lobbying for major corporations — in his case, for Big Tech giants eager to get into the medical sector (and get into patients’ medical data.)

Facebook continues to lie to the public with abandon. That is one of the main takeaways from the Facebook whistleblower’s testimony last week. Even now, having been called out, Facebook is frantically working to obscure and underplay its own dishonesty. 

The deeper problem with this argument gets at one of the most fascinating, least discussed dynamics of the Fed: the fact that it is an extraordinarily top-heavy institution, perhaps more than any part of the federal executive branch. 

The cloistered, out-of-touch nature of Fed leadership derives mostly from its obscure senior staff members. And if one asks who sets the direction for them, one finds a fascinatingly top-heavy organizational structure.

President Biden has failed to live up to his promise to progressives to be a climate president. U.S. emissions continue to rise. Last week, 23 unique plant and animal species were declared extinct. A catastrophic pipeline oil spill in California is actively killing fish, birds, and wetland ecosystems. And in violation of treaty rights that are constitutionally the supreme law of the land, Biden allowed Enbridge’s Line 3 tar sands pipeline to become operational on October 1, which will add emissions equivalent to 50 new coal-fired power plants and will inevitably spill. Biden is standing in support while water protectors are violently arrested and the Anishinaabe peoples living in the path of the project are terrorized and abused.

“The malfeasance already in the public record is staggering. For the sake of government integrity, the public must learn how deep the rot goes at Powell’s Federal Reserve.”

The Revolving Door Project makes a point of watching independent agencies, those oft-overlooked entities, closely. As a result, we’ve had reason to give a great deal of thought to the purpose and meaning of “independence” in the agency context. As “independence” is invoked as a shield in other settings, that thinking may prove instructive. 

Alumni of Gibson Dunn, the law firm that helped Chevron go after Steven Donziger, have influential executive branch jobs under Biden.