MarketWatch/Mike Murphy/8-30-2021
“A group of progressive House Democrats, including Rep. Alexandria Ocasio-Cortez of New York, on Monday called for President Joe Biden to replace Fed Chairman Jerome Powell when his term expires in February.”
USAGOLD note: Powell, a Republican, remains the favorite especially since he has proven himself particularly in tune with the Biden agenda. Lael Brainard, however, lurks in the background as a very dovish alternative. InTouch Capital Markets rates her the second most dovish member of the FOMC behind Neel Kashkari. Powell, though rated a dove, is more toward the middle of the pack. Time will tell if the Biden administration is willing to pass on the opportunity to appoint a lifelong Democrat who leans in the direction of the progressives or stick with the more centrist Mr. Powell.
