Sen. Joe ManchinJoe ManchinPicking 2018 candidates pits McConnell vs. GOP groups Manchin: Trump should make his clothes in West Virginia Sanders supporter to run against red-state Democrat MORE (D-W.Va.) said he had fundamental policy disagreements with Janet Yellen, explaining his surprising vote against her nomination to head the Federal Reserve.
In a lengthy statement, Manchin said he opposed Yellen’s nomination in the Senate Banking Committee due to her continued support for the Fed’s stimulus policies.
Manchin said that Fed efforts at “quantitative easing” have been ineffective, and Yellen had given him no indication, either during her hearing or in a private meeting, that she planned to back away from the practice.
Manchin was the only Democrat on the committee to oppose Yellen’s nomination to replace Chairman Ben Bernanke at the top of the central bank. Three Republicans — Sens. Bob CorkerBob CorkerGroups warn of rural health 'crisis' under ObamaCare repeal Ringing the alarm in Congress: 20 million lives at risk due to famine Senators want more efficient way to get food aid to Africa MORE (Tenn.), Mark KirkMark KirkThe way forward on the Iran nuclear deal under President Trump ObamaCare repeal bill would defund Planned Parenthood Leaked ObamaCare bill would defund Planned Parenthood MORE (Ill.) and Tom CoburnTom CoburnFreedom Caucus saved Paul Ryan's job: GOP has promises to keep Don't be fooled: Carper and Norton don't fight for DC Coburn: Trump's tweets aren't presidential MORE (Okla.) — joined Democrats in supporting the nomination. Yellen advanced by a vote of 14-8.
Every member that bucked his party gave similar justifications for their vote. For Republicans, they all said they did not agree with Yellen’s support for the Fed’s stimulus policies, but pointed to her unquestionable qualifications as reasons to back the pick. For Manchin, he praised her experience, but pointed to her policy outlook as a reason to oppose.
Yellen’s nomination now advances to the full Senate. She was expected to be confirmed by the chamber even before Senate Democrats agreed to change procedural rules to allow nominations to be confirmed by a simple majority.