What’s the quickest, most efficient way for President Biden to sabotage his own agenda?
Firing Federal Reserve Chair Jerome H. Powell, as some lefty lawmakers are demanding he do when Powell’s term expires soon.
Powell was originally nominated to a Fed Board seat by President Barack Obama in 2011, and elevated to chair by President Donald Trump in 2018. Since then he’s done an extraordinary job. Among the highlights: He safeguarded the Fed’s political independence when Trump tried to bully him into pursuing partisan policies. He took aggressive, early action to shepherd the economy through a pandemic. Perhaps most significantly, he reoriented the Fed’s mission toward creating more job opportunities for the most vulnerable Americans.
