5 compelling reasons for Biden to dump Jerome Powell : vimar

5 compelling reasons for Biden to dump Jerome Powell
MarketWatch
5/6/2021
OUTSIDE THE BOX
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Federal Reserve Board Chairman Jerome Powell doesn't meet the high standards to serve the American people.
By this fall, President Joe Biden will decide whether to renominate Jerome Powell as chairman of the Federal Reserve, a fact surely on Powell’s mind each day. Every Fed chair craves the nomination of presidents of both parties as a bipartisan imprimatur.
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As a creature of Washington, Biden is surely attracted to the symbolism of blessing one of the former guy’s guys. Powell has also made some decisive moves toward easing the Fed’s institutional tendency to over-worry about price stability. When the Fed promised in August to emphasize the full-employment side of its mandate, it at least quashed the institution’s official inflation scaremongering, even if other voices picked up the slack. 

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