Powell is Fed boss any U.S. president would keep

ReutersBreakingViews/Richard Beales

Repost from 11-5-2020

“Jay Powell’s job is probably safe whoever wins the U.S. presidential election. The chair of the Federal Reserve is going to stick with ultra-easy monetary policy in the coming years. That will make it easy for either Donald Trump or Joe Biden to nominate him for a second term.”

USAGOLD note:  Politicians like easy money and, at the moment, Jay Powell represents not just easy money, but free and easy money. That said, Powell, in our view, is a consensus Fed chairman reflecting the views of the institution. If it changes, he is likely to change.