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>During the trump years they seemed to buckle under the pressure. So there is no proof that Powell made fed policy based on saving his own job?
by mythhouse 4y ago
>During the trump years they seemed to buckle under the pressure.
So there is no proof that Powell made fed policy based on saving his own job?
- MacsHeadroom 4y agoPowell should make fed policy based on not losing his job. That is how jobs work. I'm not commenting on president Trump's comments or Powell's response to them. Just pointing out that we should expect Powell to align with the executive and that doing so is not "political pressure," it's just normal.
- chrisco255 4y agoTo some extent, yes. We do have the Senate confirm Fed chairs, and their terms are 5 years, which overlaps into the next administration. Biden and the Democrat Senate refused to confirm Powell for his second term for over a year. It wasn't really until after he was confirmed for his second term that the Fed turned hawkish. Could be coincidental. Still, let's not pretend that the Fed is free of political influence and pressure from all sides.