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There's ample reason to believe that the Fed delayed starting its current rate hike process due to political reasons; Chair Powell wanted to be re-appointed and
by prottog 4y ago
There's ample reason to believe that the Fed delayed starting its current rate hike process due to political reasons; Chair Powell wanted to be re-appointed and felt that no chair who championed rate hikes back in 2021, which is when it should have started, stood a chance.
- dragontamer 4y agoUnlikely. Powell was kept on by both Trump and Biden. For all of the hoopla about "politicalization of the Fed", Powell has kept his chair. Its not perfectly insulated. Both Trump and Biden can whisper to Powell and encourage certain behaviors. Ex: Trump pushed for lower rates, and Biden pushed for higher rates respectively.