The Heritage Foundation, which rates lawmakers on how conservative they are, said it would be scoring senators on their votes in the confirmation of Janet Yellen, according to a Wall Street Journal report.
Heritage cited Yellen’s support for the Fed’s current $85bn-per-month bond-buying program as among its reasons for opposing her confirmation, the Journal reported.
“Although Yellen acknowledged the current size of the portfolio is ‘unprecedented’ she did not present a plan to roll back the Federal Reserve’s engagement in such activities,” Heritage said in a statement.
Yellen’s dovish monetary policies may be making Heritage unhappy, but they’re just fine with many in the mortgage industry – the Fed’s bond-buying program has led to historically low interest rates.
Not that Heritage’s opposition matters much in the long run; with Senate rules revised to prevent Republicans from filibustering nominations, Yellen’s confirmation is virtually assured.
A conservative think tank announced Monday that it opposes the confirmation President Obama’s pick to head the Federal Reserve.