Biden’s Fed – New mandates, a close White House tie and big challenges ahead

CNBC/Jeff Cox/1-20-2021

“But that doesn’t mean the U.S. central bank won’t face pressure as it looks to navigate its way through a new administration. Challenges ahead include the coronavirus pandemic, as well as demands for a more inclusive economy and a stronger approach toward social issues, such as racial equality and climate change.”

USAGOLD note: Not to mention keeping the printing press running at full tilt to cover the costs of all that……Some interesting new dynamics come into play as Biden moves into the White House, Powell remains at the Fed and former Fed chair Yellen moves to Treasury. The upshot, though, is that the new act taking the stage has a far more ‘progressive’ agenda than the one that has just exited. And the one that just departed was not exactly conservative in its approach to economics.