How Softies Seized the Fed

Who should lead the Federal Reserve? President Biden faced a difficult choice. Should he reappoint Jay Powell, a monetary dove who believes that the current inflation spike is probably temporary but might revise his views in the light of evidence? Or should he nominate Lael Brainard, a monetary dove who believes that the current inflation spike is probably temporary but might revise her views in the light of evidence?
In the end, he went with the monetary dove.
OK, Powell and Brainard aren’t identical.

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