Elizabeth Warren reportedly plans to lobby Biden to be Treasury Secretary
Andrew Trunsky, DCNF
Massachusetts Sen. Elizabeth Warren plans to lobby Democratic nominee Joe Biden to be his Treasury Secretary if he wins next week’s election, Politico reported Thursday evening.
“She wants it,” two Democratic officials told Politico, referring to Warren.
Other possible future Treasury Secretaries include former Treasury Department official Sarah Bloom Raskin, Federal Reserve Governor Lael Brainard and former Federal Reserve vice chairman Roger Ferguson, according to Politico.
While a Secretary Warren would certainly appease progressives, who have vowed to lobby Biden to adopt a more liberal agenda, her selection would likely face resistance from moderate Democrats and Wall Street, which has warmed to the idea of a President Biden in recent weeks, the outlet reported.
Warren spokeswoman Kristen Orthman declined to confirm Politico’s report, telling the outlet that they are focused on the election. “It’s 5 days out, we’re focused on the election and encourage encourage everyone else to be as well,” she said.
Warren’s allies have touted her economic and political past – pointing to her establishing the Consumer Financial Protection Bureau – arguing that it would make her uniquely qualified for the job, according to Politico.
Her opponents in the financial sector have voiced concern that she would adopt stricter regulations against it, often referring to her 2020 primary campaign, the outlet noted.
A Secretary Warren could also trouble Democrats in the Senate, since GOP Massachusetts Gov. Charlie Baker would be tasked with appointing her replacement if she were to resign her seat.
Democrats do have a supermajority in the state legislature, however, and could amend the current rules and require Baker to appoint someone from Warren’s party, which would make Massachusetts the eighth state to do so, the outlet noted.