Senator Warren doubts whether Fischer should be vice chairman of Fed [View all]

United States Senator Elizabeth Warren has expressed reservations about Stanley Fischer as vice chairman of the Federal Reserve, in an interview that aired on Bloomberg TV on Friday.

Speaking on the program “Political Capital with Al Hunt,” the Massachusetts Democrat and longtime consumer advocate said she expects incoming Federal Reserve Board Chairman Janet Yellen will be a more aggressive financial regulator than her predecessor, Ben S. Bernanke.

"I want to be hopeful," Warren said, when asked whether Fischer is a good choice for vice chairman.

"This is a hard time right now for the Federal Reserve," she said. "This economy has not recovered the way it should coming out of this recession. And what we’re seeing is the Federal Reserve has very limited tools. And in a world in which Congress is willing to act, a world in which Congress is not cutting back on spending using the sequester to cut back, shutting down the government, costing the economy $24 billion, Congress is supposed to do its part, the Fed does its part.

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