QUORUMCALL//GPT:
Senator Elizabeth Warren criticizes Federal Reserve Chair Jerome Powell for his lack of action on executive compensation and disregard for public interest and the law.
WARREN’S TAKE
– Warren accuses Powell of ignoring Dodd-Frank Act rules that mandate executive compensation to be disclosed and linked to performance.
– She alleges Powell’s inaction helps CEOs with a history of manipulating stock prices to collect bonuses.
POWELL’S POSITION
– Powell maintains that executive compensation is not within the Fed’s jurisdiction and should be addressed by shareholders.
– He points out that executive compensation is not a significant factor in financial stability.
TOPICS COVERED
– #DoddFrankAct, #FederalReserve, #ExecutiveCompensation
NOTE
This article comes from Foreign Affairs, a source that provides coverage on global affairs and U.S. foreign policy.
