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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Bumping to give my guy his flowers.

The most powerful man in town since 2018.

If Biden doesn’t te-nominate due to woke pressures, he’s confirming that he’ll be a one term president [/quote]

What would be wrong with Lael Brainard? She would be an amazing pick, and her policy would be very mainstream. Not woke, whatever that means.[/quote]

She will be Vice Chair of Supervision, once Quarles’s Vice Chair term ends this fall.

She won’t be Chair.[/quote]

Why should Lael Brainard take vice chair for supervision?  Vice chair of the Board (more generally) is more prestigious, especially for an economist like her. The term as governor for the current occupant, Richard Clarida, ends in January, so vice chair for the Board opens soon.

Agree it woulld take an awful lot to dislodge Powell as chair, although Brainard is well-qualified.[/quote]

Brainard is not a monetary economist, she’s a foreign aid/trade economist. The Vice Chair is usually a monetary expert and needs to counterweight the President of FRBNY in the FOMC meetings. Especially when you have Powell, who is a lawyer & ex-banker.[/quote]

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