In the current issue of New York, I profiled Jay Powell, the Joe Biden of central banking. A few years ago, Powell didn't really look like anyone's top choice for Fed chair. But he had just the right skills to meet this moment.
Read on Jerome Powell, the most effective official in the Western world
. “At the end of the session, Powell turned to her and said, “Claudia, you had such a big day today.” “Well, yeah,” Sahm replied. “I’m in your office.” “No,” Powell told her. “Noah Smith retweeted you.”
“Powell’s success runs counter to the populist political narrative of our era: The Fed’s wonky technocracy has succeeded while the theoretically more politically accountable arms of our government have failed.” via ⁦
What's interesting about this profile is that the main success it attributes to Powell is improving the Fed's public relations- while being a part of the Fed's successful public relations.
Great profile of Powell, his Fed tenure, and the covid crisis. Interesting argument that a moderate GOP chair could best advance liberal priorities of loosening in 2019, intervening credit directly in 2020, and significantly reevaluating NAIRU.
J Pow made to New York Magazine with a cover photo that looks like he just dropped a platinum record.
This piece is essentially a distillation of the argument in favor of Powell’s reappointment.
"a bunch of borderline cranks talking about nominal GDP targeting" ... shots fired @ 😂😂😂
excellent profile of Fed Chair Jay Powell by
"That [Powell] was twice the only option for the Fed who checked all the boxes is a demonstration of how short the list of reasonable Republicans available to serve in key economic-policy roles actually is."
The Federal Reserve, at least, did its job.
Is Brainard really this far ahead of Raskin? Raskin would also be really good!