- Oct 25, 2021
- Reaction score
Biden Chooses to Renominate Fed Chair Jerome Powell
On Monday, president Joe Biden
At the end of August, three Democrat representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib, and Ayanna Pressley had
Last week, headlines further detailed that president Biden was
“America needs steady, independent, and effective leadership at the Federal Reserve so it can advance its dual goals of keeping inflation low and prices stable, as well as creating a strong labor market that broadly benefits workers with better jobs and higher wages,” the White House
President Biden has full confidence in Powell and Brainard’s experience, judgment, and integrity to continue delivering on those mandates and to help build our economy back better for working families.
Peter Schiff: ‘With Brainard as Vice-Chair, Inflation Is Assured to Get Worse’
Biden and a majority of U.S. politicians are always on the hunt ways to fund their goals and choosing Powell again will likely keep the flow of money going strong.
The economist and gold bug, Peter Schiff, explained that this is likely the case. “As expected Biden renominated Powell as Fed chair,” Schiff
Despite [him doing] lousy jobs, as evidenced by maintaining QE and ZIRP in the face of the highest inflation in 30 years, Powell was the politically safe choice. With Brainard as vice-chair, inflation is assured to get worse.
People also highlighted that Jerome Powell oversaw the U.S. monetary supply expand more so than ever before in America’s history. No doubt we live in interesting times when Jerome Powell, the man who saw a 40% expansion in the money supply in months and tacked $5 trillion onto the Fed’s balance sheet in the time it takes to get a Domino’s Pizza delivered, is the ‘hawkish’ choice,” an individual dubbed “Quoth the Raven”
What do you think about Joe Biden choosing Jerome Powell for a second term leading the U.S. central bank? Let us know what you think about this subject in the comments section below.