AOC and other progressives call for Biden to replace Powell as Fed chair

MarketWatch/Mike Murphy

Repost from 9-3-2021

photo showing Jerome Powell and Lael Brainard during Fed Board of Governors meeting“A group of progressive House Democrats, including Rep. Alexandria Ocasio-Cortez of New York, on Monday called for President Joe Biden to replace Fed Chairman Jerome Powell when his term expires in February.”

USAGOLD note: Powell, a Republican, remains the favorite especially since he has proven himself particularly in tune with the Biden agenda. Lael Brainard, however, lurks in the background as a very dovish alternative. InTouch Capital Markets rates her the second most dovish member of the FOMC behind Neel Kashkari. Powell, though rated a dove, is more toward the middle of the pack. Time will tell if the Biden administration is willing to pass on the opportunity to appoint a lifelong Democrat who leans in the direction of the progressives or stick with the more centrist Mr. Powell.

Share
This entry was posted in Today's top gold news and opinion. Bookmark the permalink.