White House decisions on Fed leadership complicated by trading furor

FoxBusiness-Wall Street Journal

Repost from 10-19-2021

photo showing Jerome Powell and Lael Brainard during Fed Board of Governors meeting“Mr. Powell, a Republican, has been the front-runner to keep the job when his term expires early next year. But questionable trading activities by two Fed bank presidents,¬†first reported last month by The Wall Street Journal, cast a cloud over his prospects by giving¬†a vocal minority of Democrats who already opposed his nomination new grounds to call for his replacement.”

USAGOLD note: Interestingly, a former Fed economist says if Powell is implicated in the trading scandals, it involves Lael Brainard, the oft-mentioned alternative, as well. This is a solid update on the critical changes unfolding at the Fed.

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