Jay Powell is a better fed chair than bernanke or yellen.

[Anonymous]

He is pumping money to inflate the stock market. I don't think his policy will cancel the recession.

[Anonymous]

Jay destroyed the Fed’s credibility in return for a rapid 35% climb off the March 23 lows. He has set us up for an incredibly nasty generational war. It wasn’t worth it and will have dramatic unintended consequences down the road.

[Anonymous]

He genuinely cares for the afflicted on a personal level. Bernanke and Yellen not so much. Probably because Powell, unlike the other two, is not an economist and has a high E IQ.

[Anonymous]

I wonder if there is any difference also with Powell being the first gentile chair in three decades

[Anonymous]

Powell is ruining capitalism. Capitalism without bankruptcy is like Catholicism without hell

[Anonymous]

Anonymous wrote:I wonder if there is any difference also with Powell being the first gentile chair in three decades

Really? Get a life.

It so happens he is the first non-economist to chair the Fed in three decades.

[Anonymous]

Anonymous wrote:Jay destroyed the Fed’s credibility in return for a rapid 35% climb off the March 23 lows. He has set us up for an incredibly nasty generational war. It wasn’t worth it and will have dramatic unintended consequences down the road.

The best month for the stock market since 1970s while in the middle of the worst pandemic in a century -- financed by debt on the backs of the younger generation.

[Anonymous]

Powell looks decisive right now, but then again he faced a crisis that was one giant cliff.

Most armchair critics complain about incremental rate cuts, but then again they are too young to have any idea of what life is like when inflation is high. They have no recollection of watching every single thing you buy go up and up and up, while your paycheck is the same. If you were born after about 62 or 63, you don't have a clue.

[Anonymous]

Anonymous wrote:Powell looks decisive right now, but then again he faced a crisis that was one giant cliff.

Most armchair critics complain about incremental rate cuts, but then again they are too young to have any idea of what life is like when inflation is high. They have no recollection of watching every single thing you buy go up and up and up, while your paycheck is the same. If you were born after about 62 or 63, you don't have a clue.

Oh yeah, the only inflation we’ve experienced is the exponential ones in healthcare, college tuition and real estate. I listened to a podcast the other day about Terri Schiavo. Her 24-hour nursing care while in a persistent vegetative state was only $3000 per MONTH in the 1990s.

[Anonymous]

Bumping to say what an excellent fed chair he is and biden MUST keep him on. The statement he put out on inflation targeting and nairu was a decade too late...bernanke and yellen both succumbed to old models of thinking.

powell is the best fed chair since volcker.

[Anonymous]

Anonymous wrote:Bumping to say what an excellent fed chair he is and biden MUST keep him on. The statement he put out on inflation targeting and nairu was a decade too late...bernanke and yellen both succumbed to old models of thinking.

powell is the best fed chair since volcker.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They should not have lowered rates last year. And they didn't need to lower .50 in March.

+1 Powell caved to pressure from Trump. We absolutely did not need to lower rates last year.

+1

+2

+3

[Anonymous]

Told you so:

https://nymag.com/intelligencer/article/jerome-powell-federal-reserve-profile.html

Even NYMAG is positive on powell.

Biden must keep him on.

[Anonymous]

Anonymous wrote:As long as Powell doesn’t toss dollars out of helicopters as Bernanke once threatened, we should be good

He actually did that. He gave banks an unlimited line of credit at the Fed.

[Anonymous]

“ But the Fed also owes much of its current success to the fact that it is led by Powell — who is not an economist, unlike his three immediate predecessors, but a bureaucratic operator skilled at making friends and forging consensus. In the popular imagination, the Fed is a nonpolitical entity, almost godlike in its distance from electoral pressures. But, as at the Supreme Court, that is just a cover for a slightly different, more personal form of politics. At the same time the president was slamming him on Twitter, Powell was diligently building relationships in Congress, winning over skeptical stakeholders to his right and left, and building the political support he would need for an extraordinary crisis response when the pandemic hit.”

This is the benefit of a non-PhD economist as fed chair:

“While running the Fed requires extensive expertise in monetary economics, it doesn’t really require being a monetary economist. If you are diligent, you can learn the material you need. So when Powell got to the board, he set about learning everything he needed to know about monetary policy, drawing on the Fed’s staff of over 400 economists. He read extensively and didn’t give his first public speech until eight months after he took his seat on the board.”

Some sections at cia prefer hiring analysts who are not phds for this reason.