Jump to content
270soft Forum

Fed Chair decision -will Biden screw it up?


PoliticalPundit
 Share

Recommended Posts

Biden deciding between Powell (Republican) who masterfully led us through the pandemic, and has handled tapering talk perfectly

vs.

Brainard (Democrat) who has a major supporter in Elizabeth Warren, they are fairly similar stance wise on inflation, etc but she takes a bigger stand on global warming and poverty? 

 

Right now, the market's are at record highs. It would be a disaster for them if he changes people at this moment in time. One wrong word at a press conference and the markets go tanking, Powell knows exactly how to play it while Brainard is inexperienced with the job. 

 

Yesterday Biden said we'd be hearing the decision on Friday/Saturday "4 days from now", but now his team said today it will be known by Thanksgiving. Biden changing people and trying to pass inflation blame to Powell would just be the latest in one of the worst starts for a President in recent memory  

Link to comment
Share on other sites

28 minutes ago, PoliticalPundit said:

Biden deciding between Powell (Republican) who masterfully led us through the pandemic, and has handled tapering talk perfectly

vs.

Brainard (Democrat) who has a major supporter in Elizabeth Warren, they are fairly similar stance wise on inflation, etc but she takes a bigger stand on global warming and poverty? 

 

Right now, the market's are at record highs. It would be a disaster for them if he changes people at this moment in time. One wrong word at a press conference and the markets go tanking, Powell knows exactly how to play it while Brainard is inexperienced with the job. 

 

Yesterday Biden said we'd be hearing the decision on Friday/Saturday "4 days from now", but now his team said today it will be known by Thanksgiving. Biden changing people and trying to pass inflation blame to Powell would just be the latest in one of the worst starts for a President in recent memory  

He's been pretty consistent in strongly considering Powell. I'd prefer Brainard, obviously. However, with inflation high, he may have more of a political impetus to change Powell for two reasons: 1) To get Democrats more excited, and 2) If he makes the change and inflation seems to suddenly be going down, whether it was from that change or not, it would look like he made the difference with the change.

Link to comment
Share on other sites

9 hours ago, vcczar said:

He's been pretty consistent in strongly considering Powell. I'd prefer Brainard, obviously. However, with inflation high, he may have more of a political impetus to change Powell for two reasons: 1) To get Democrats more excited, and 2) If he makes the change and inflation seems to suddenly be going down, whether it was from that change or not, it would look like he made the difference with the change.

If he changes away from Powell the stock market is going to tank by the end of the year. And Biden will obviously be seen as solely responsible for that. How exactly is that going to help the economy or inflation? I think this is an extremely high risk very very low reward option for Joe. 

 

And "get Democrats more excited"? Maybe progressives. And even then the progressive wing was vehemently against Brainard a year ago and did not get any support from them (but have now changed their tune for the lesser of 2 evils according to them) But Democrats use the stock market too, I really don't see this as anything but a desperation move. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...