I’m sure that will work out just swell.
Let me guess, he’s a serial bankruptcy adulterer indictee?
It could be worse – a lot worse actually given the abominable record of this administration – but Powell is still an Inflation Derper so we can expect some bad policy moves from the Fed after he takes over.
So , Dickhead will not have to pick the lock to get any money for his off shore bank accounts .
Powell is a lawyer, and by all accounts a nice guy. However, some very serious changes are taking place in the macroeconomic sphere, and you probably want to have one of those greek-letter equation guys there when the going gets tough. A couple reasons. First, the US is finally trying to exit QE. Under this policy, central banks became the biggest holders of bonds in the world, typically a fifth of all government debt. QT is all about unwinding that bond position. Second, legislators and governments have not come up with new economic paradigms. Most politicians still think “growth” is the answer, even if that possibility for advanced economies has been retreating for four decades. Growth has been almost eerie in the period since the 2008 global financial crisis. Ironically, the US has resorted to a good, old-fashioned devaluation of its currency and the possibility of higher inflation down the road. Thus, the follower central bank has become the economic policy leader without the vision as to where the economy should be steered. It’s great to have forward momentum, but having a direction is sort of the point.