Political Disapproval of Private Enterprise Production

The Wall Street Journal‘s editors are touting the withdrawal of Sarah Bloom Raskin from the nomination to the Federal Reserve Board’s Vice Chairman position, laying that defeat off to this:

But Ms Raskin’s most significant opponent was her oft-expressed view that the Fed and other regulators should deny credit to companies that produce or heavily consume fossil fuels.

It’s good that this one failed, but it’s just an early skirmish.

The problem is broader than this. It’s dangerous to our republican democracy that anyone would be nominated to the Fed or to any Executive Branch position who would willingly abuse that position’s authority to discriminate against any government-disapproved American enterprise.

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