Us Senator Elizabeth Warren said she would not support the Fed chairman's re-election because of her dissatisfaction with Jerome Powell's performance in financial regulation.
"I'm worried about your record," Warren said at a Senate Banking Committee hearing on Tuesday. "your actions have reduced the security of our banking system, and as chairman of the Federal Reserve, you are a dangerous man, which is why I am opposed to nominating you for re-election."
Powell's term of office will end in February next year. Earlier, it was reported that White House aides were considering advising the president to keep Powell in office.
Powell's record on financial regulation has long been considered one of the major contentious issues, and his nomination has been supported by some bipartisan lawmakers and largely endorsed by the market.
Fed governor Lael Brainard, who is seen as another major contender, disagrees with Powell in particular on financial regulation.