“Progressive” Debate: Should Biden Reappoint Jerome Powell?

Source: The American Prospect
by David Dayen, Dean Baker, Max Moran & Tracey Lewis

“Analysts expect gross domestic product to grow by 10 percent in the second quarter of this year, with the economy filling the entire chasm created in the pandemic by the end of June. For 2021, the expectation is for the fastest economic growth since the 1980s. Though jobs may not come all the way back until next year, the relatively rapid recovery is a remarkable achievement for the U.S., due in no small part to strong fiscal policy that carried on well beyond the initial response. But we also must credit the Federal Reserve for doggedly sticking to a zero-interest-rate strategy, and holding firm to that commitment to make the job market as favorable as possible for workers.” [editor’s note: Although this “debate” is clearly slanted in its intentions, it may hold info of value to libertarians as well – SAT] (06/10/21)