Finance

Sen. Toomey claims Fed overstepped on social issues

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U.S. Senator Pat Toomey (R-PA) questions Treasury Secretary Steven Mnuchin during a hearing on “Examination of Loans to Businesses Critical to Maintaining National Security” before the Congressional Oversight Commission at Dirksen Senate Office Building, in Washington, December 10, 2020.

Sarah Silbiger | Pool | Reuters

Sen. Patrick Toomey is taking aim at the Federal Reserve, expressing concern in a letter Monday about the central bank’s foray into social issues such as climate change, race and health insurance.

Specifically, the Pennsylvania Republican cited research from the Fed’s San Francisco district about a host of issues that he said exceed the central bank’s traditional mandates on…



Source cnbc.com

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