My husband and I are on the cusp of our retirement. Since I am four years younger than my husband he is working longer than desired because of the cost of health care. The Republicans out of spite are doing everything that they can to eliminate everything that has sustained our economic recovery over the last 8 years. They have rolled back everything. Climate change, health care, birth control, regulations, (environmental, safety, financial), taxes and the list goes on. We are fearful for financial security, our broke 91 year old parents and our 20 something children with college debt and high housing prices in big cities. We have never been more afraid. Changing the Fed leadership at the end of the business cycle doesn’t help. And make no mistake the end of the business cycle is near for the working middle class. It took four years for the stock market to recover from its 2009 crash. How long and when for the next one.
2
The swamp has been drained so much we can toss our muckaluks. (Sp?)
"Billionaires wanted. No degree? No problem!" - The Trump Misadministration
3
confident in his deep commitment to carrying out the vital public mission of the Federal Reserve
Could someone tell me what that means?
Wait till the US economy and companies start to slow down.
Who is Trump then going to blame?
1
Janet Yellen, the first woman Fed chairperson, has an exemplary record and is virtually identical in governing philosophy to Powell. I guess in Trump's mind the Obama stain never washes off his actions or his appointees.
Dishonest Donald does it again. Gets rid of a powerful woman and replaces her with another old white man.
5
Look.
The Great Showman may be suffering from deep seated mental illness: malignant narcissism.
Dear Leader Don may be belligerent, ill-informed and antagonistically contrarian,
but he knows how to protect his stash.
Consigning the likes of Ben Carson or Rick Perry to the Federal Reserve?
Even Liddle Hans' is smarter than that.
Sammie "da chin" Clovis or Starbucks Georgie would not protect Baron's big game hunting career.
Frequent flyer "Suicide Girl" Munchkin....seriously.
No, Tsar Trump is lucid enough to protect his laundered Russian fortune.
2
Terrible and we are doomed
1
People who automatically oppose anything Trump does because - well- because Trump does it, must be going into a brain circuitry meltdown:
He must be bad, because Trump appointed him. Even if he is the best candidate, we still have to oppose him because Trump appointed him. The NYT will understand. Can't wait to read their scathing editorial opposing him. What ?! The NYT supports his appointment.That can't be ! Now what do I do. I ..I might have to think by myself and make my own decision based on the merits. Noooooo !
1
Trump probably don't know the guy well enough to call him by his nickname, but did it anyway… Typical!
2
Trump - " A wonderful woman who has done a terrific job ." Then why is she being fired? Oh, I get it. She is Not a Republican!
2
This just demonstrates to planet earth that trump and his merry band are male chauvinists and misogynists. I am a woman and this makes my blood boil. (Plus stabbing BC in the back over softwood lumbar. BTW BC always wins in the trade tribunals which is why drumpf and his "brain trust" are opposed to them. Finally my Province is smartening up and shopping our lumbar elsewhere....it should have been done years ago!
4
Yes, let us keep amusing our true emperor- the leviathan of pathological debt!
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)
1
In Trump's mind, Powell's greatest attribute is that he was not appointed by Obama. And it didn't hurt Powell's chances that he is a white male.
2
We' ll see.......the economy was due for a reset eve without this change,
Thank God! Trump dumps Yellen!
The ONE THING good about Trump's presidency!
Yellen has done so much damage, we really needed her gone, and Trump promised he would dump her, so, YAY!
Sorry, Gary Cohn, but keeping quiet about Trump racism in order to keep your job prospects alive didn't work so well. He doesn't like compliant, weak types. Just ask Jeff Sessions and Sean Spicer.
Trump continues his war on women- smart women. This from a man who attended Wharton for only two years and got a degree in real estate. He is unable to spell economics let alone demonstrating and understanding of monetary policy.
4
He just couldn't stand that she was a woman.
2
The reason for the change is quite simple Real President Obama appointed her.
3
In Trump’s value system a rich white man deserves respect; a female academic not so much. Also, Powell may fit the CentralCasting image of a central banker better, important to someone of Trump’s mentality.
I have learned from long experience that when it comes to Republicans, even rational, responsible ones like Powell, it is only a question of when, and how badly, they make a mess of things.
5
And I'm glad that Janet Yellen had such a philosophical view… I guess that's what you call it, about the prospects of continuing her job. That job, is to be "one of the most powerful people in the world", as business teacher once told the class.
1
Leave it to Trump to nominate another person without the minimum qualifications for the job, an Economics degree. Carson knows medicine we give him housing. Impeach Trump he has no qualifications other greed.
10
Good day, Becky.
"Minimum qualifications?" "Economics degree."
He has been on the seat of Federal Reserve Board of Governors since 2012 as he was appointed by Obama to replace Frederic Mishkin.
Please do try to see it beyond the lenses of your partisanship.
Another terrible change! Janet Yellin is incredibly brilliant, non partisan and just so good. But Mr President Resentment can’t but get rid of a Democrats appointment. What an awful human being or whatever you call him.
15
Trump is sexist, and this decision is a stark reminder of what he thinks about the intelligence of women.
12
Sung from the banking industry song sheet in 2010 re: 'quantitative easing', parroting the usual bromides of inflation, devaluation and end of civilisation. Dead wrong; perfect for the Fed. Can find nothing from him in 2008-9 opposing the bailouts. The ABA have their man. Amateur hour. Sell the peaks.
1
The fact that Powell is not an academic will be all some people need to know. Someone who actually thinks rather than recite verse and chapter is an intolerable unknown quantity that their leash won’t fit.
1
I have some reservations whom most Democrats consider a centrist and pragtamist. We could embrace Trump's unprecedent pick for Federal Reserve Chair or saturate into unproductive economy.
The USAould get rid of 'The Reserve' period.
Oh, no.
He talks like a banker.
That loan application better be all complete.
1
Trump wouldn't recognize "strong, committed, and smart" if it walked right up and said hello.
5
I have not seen evidence that economists have actually contributed anything to the world. Mr Powell's lack of an economic degree would seem to be a positive
1
Powell is just another Keynesian who will continue: keeping interest rates too low, to facilitate financing the US’ $20+ trillion national debt, $700+ billion/yr budget deficits and to keep the stock market and real estate bubbles inflated until they explode...
The Fed needs to unwind about $3 trillion in mostly bogus “assets” off its balance sheet and aggressively increase interest back to 6% to deflate the bubble economy, strengthen the US$, and force US government to balance its budget.
Such fiscally responsible monetary policies are political suicide, so Trump and the Fed will simply kick the can down the road and hope the economy doesn’t implode over the next 7 years....
2
Trump continues his deranged "scorched earth" policy of eliiminating or destroying all things Obama. Yellin provided a steady hand as Fed chair. There was no logical reason to make a change at this juncture accept to appease Trump's outsized ego. This man is truly exhausting.
8
He is not up to the job. This appointment was senseless and we'll all pay for this mistake..
2
Do you mean Powell or Trump? Or both? Frankly I think it applies to both.
“The Fed under Ms. Yellen’s leadership has sharply reduced unemployment while maintaining control of inflation, coming as close to achieving its congressional mandate as at any time in its history.”
Humm...so she is the best ever at her job but Trump wants to choose his own guy? Maybe it has something to do with her not being a guy? Or maybe it’s because Obama selected her? Or maybe it’s because he is ignorant and makes poor decisions? I think we’re in trouble because it’s all of these.
8
Not being an economist, my mind is poisoned by Thomas Carlyle's 1849 words that economics is a "dismal science". Janet Yellen was a warm, grand-motherly figure with a New York accent. Who knows, what does future bring?
Ms. Yellen's commendable career should be celebrated for the prudent monetary policy which partly accounts for the benign inflation, a low 4.2% unemployment, a 44-year low in jobless-benefit claims. This corridor of navigation enabled the private sector to deliver 3% growth rise (forecast 2.4%) and a 3% productivity surge, a 3-year best.
Although Ms. Yellen would have been the perfect choice, Mr. Trump, opted for Mr. Powell as the best alternative to a backlash from his base. In fairness, among Republicans’ favorites, Mr. Powell is the most-likely candidate to maintain the monetary-policy gains painstakingly reached during the last eight years. Yes “he lacks the deep background in economics of some of his predecessors”; but he is, like Mr. Mark Carney (England), a team player with proven leadership acumen to mobilize the best strategic and professional talent, including Nobel Laureates, to assist him in navigating crises, as reflected in his March 04, 2013 thought-provoking speech.
But the Fed is only an element of the systemic-risk arsenal. While regulators are grabbling with bank liquidity, derivatives and “too big to fail” issues, the digital revolution bodes opportunities and systemic risks we can dimly imagine, including hacking, fake social media and cryptocurrency crimes, which may threaten economic stability and political governance. Mr. Powell would excel at engaging the Treasury and other agencies to help strengthen the financial system’s digital resilience.
While not a surprise, this change is still very disappointing. Janet Yellen is not only an eminently qualified economist, but she has consistently demonstrated outstanding leadership during her tenure as Fed Chair. Remember, Yellen as Fed Chair only controls monetary policy while Congress controls fiscal policy. (even some Congressman don't understand this distinction) Yellen was the only woman Trump considered for this position. His decision to not re-appoint her is another example of how he views woman not only in his administration but also their role in our country. Trump can tweet till his fingers hurt and blabber until his tongue tires out, but its his actions that undeniably reveal who he is as a president and person. Trump's appointment of Powell SHOUTS volumes, and from my perspective, it's very disappointing.
18
Hope Powell maintains Bernanke's and Yellon's philosophy, not only as to interest increases, but also as to sufficient bank regulation precluding rash moves which could cause the same problems that caused our 2008 recession. Further, hope he also has sufficient academic training, even though he isn't an economist.
Jerome Powell would be the first Fed chief in more than four decades who did not have an economics degree.
https://www.nytimes.com/2017/11/02/business/economy/jerome-powell-fed-ch...
'I love the poorly educated'
That's just lovely, Donald.
36
Obama nominated Jerome H. Powell, to fill the vacant seats on the Federal Reserve’s board Dec. 2011. Obama lauded Powell for “impressive knowledge of economic and monetary policy,” and described him as “tremendously qualified.” Obama also said: "Mr. Powell is an expert workings financial markets, an important specialty as the Fed expands its regulatory responsibilities. Google: "Obama to Nominate Two for Vacancies on Fed Board". SOURCE: New York Times article. by: "By BINYAMIN APPELBAUMDEC. 27, 2011 ☺☺☺
So tell me, where was your voice when Obama nominated Mr Powell?
The House proposed a $2 trillion tax cut for businesses already sitting on $2 trillion in cash because they can't find anything to do with it (yes big US corporations have that amount of money sitting on the sidelines).
The Fed is going to gradually raise interest rates and unwind its balance sheet, central banks around the world are going to continue their stimulus (what we used to call printing money). What is this going to do to the borrowing costs for the US federal government which has to service ~$20 trillion in debt? The current cost of debt is approx. $250 billion or 1.25% - what happens when it becomes 3% ($600 billion) or 5% ($1 trillion)?
8
What's all this yellin' about the replacement of Janet Yellen?
Surely you aren't serious. While she is exquisitely white, she remains poorly qualified for remaining fed chair during Trump's admin, and it's surprising she she hasn't been ejected sooner. I'll explain how she's dq'd in the following 4 ways. First, there's the fact that she's perfectly qualified and has done an excellent job. B, she is, unfortunately a practicing female of the opposite sex.
And, III, she has been previously approved by Obama, our nation's first black president, elected 2 immaculate terms, trailing clouds of glory, etc. And, finally,
41
We got A, B, and III. "And finally . . . ."
So Trump "breaks with tradition" and fires her. Makes it sounds so nice.
How about, "..in his continuing bizarre, illogical and deranged drive to wipe any vestige of the Obama administration from the face of the Earth, Trump fired the very talented and highly respected leader of the central bank, thereby unwinding a huge milestone for women."
My God this man is a miscreant
58
I'm guessing Gary Cohn's rethinking his decision to stay on with the Trump administration.
9
Well, she IS a woman!
10
A prerequisite for a Trump position: no appropriate college degree for your job.
Powell has no economics degree, just as Betsy DeVos has no degree in education, Ben Carson knows nothing about housing, etc, etc.
Oh, that nasty college stuff, who needs it? Obviously. Look at the worth of Trump University!
37
This is awfully disgusting, I an speechless. all these DJT adepts. Man, am I glad I left. I think I had a ‘clairvoyant’ attack.
5
Continuing with a theme, the 45th is certifiably not only uncomfortable working with smart, competent and respected women, he is hostile to their very existence. Did anyone really expect him to defy his own perverse norms and behaviors?
23
This guy is not even an economist. This is another bad hire. make America great? more like make America in depression or recession again.
11
Weren't the lessons of the 2008 financial collapse painful enough? Donald Trump is dismantling all protections and securities that benefit the electorate pushing our nation ever farther away from a great democracy and deeper into a kleptocratic oligarcy that only benefits the uber wealthy.
10
Probably in Mr. Trump's mind, independent of Mr. Powell's own merits, and their similitude to Ms. Yellen's, what mattered most is that he is a man.
12
Given enough time and opportunities even monkeys will make good choices but it's probably better to be grateful to help encourage more good behavior by our president.
2
The sole fact that someone accepts an appointment by Trump is an indication of that individual's moral weakness and ethical challenges. Nothing good will ever come out of anyone allied to the Immoral Narcissist.
10
Even though Powell will continue Yellens policies Trump deliberately by passed Yellen because she is a woman. So petty
11
Thanks Janet. Good job.
18
Now, if only he had a background in economics.
12
The purpose in not renewing Yellen was
1. To destroy another Obama era appointment
2. To get a woman out of a position of power
3. To please his oligarch buddies with a Wall Street financier rather than a real economist
4. To have someone beholden to him for an appointment whom he could compel to "kiss the ring"
Yellen did a fabulous job, and it was an insult to break with tradition and not offer her a second term, but that is what Tump is all about
mysogyny
spite
greed
sycophancy
This is what we will be living with until 2020
39
...try 2024.
There was simply no chance that trump's ego would let him keep Obama's pick. It does however surprise me that he chose a centrist. But many thought that Kelly would be a stable and moral influence on the administration. Let's hope that the new Fed chairman doesn't have a hidden evil side too.
10
"He's strong, he's committed and he's smart" and he's not on Twitter so he doesn't know that I'm none of those things.
4
All who critize Mr. Powell's appointment just because Trump appointed him should read the NY times editorial. Please at least think and analyze issues of the basis of facts before you form an opinion. Each one of us owes that to ourselves and our country.
2
If he's happy with Yellen and thinks she is "Excellent," then why risk creating market uncertainty? Oh yeah, I almost forgot, it's all about erasing anything Obama.
9
I'm sure he will adjust interest rates and monetary policy to benefit all Americans, regardless of their income and tax levels.
No, I'm just kidding.
14
First Trump question at vetting. Will you Kneel and kiss my ring? Yes? Trump: you are qualified.
29
Given DearLeader's past record of appointments, I'm surprised he didn't appoint Willie Sutton.
Or maybe he did.
12
“Trump wanted to pick his own Fed Chairman”. Of course he did seeing how all his other picks and appointments have been so successful!
Everyone Trump picks is an incompetent disaster that serves Trump’s personal fortune and not the United States.
Janet Yellen was doing a fine job. This pick will turn out to be a disaster like all other Trump picks. Trump has extremely bad judgement...so bad in fact he should be immediately removed from office.
Trump: Worst US President Ever
60
Another Trump mistake: Now he can continue the destruction of our country with another bad choice. Oh, and that’s right: Janet Yellen is a woman.
31
Thank you Ms. Yellen. You have guided us well through troubled waters. As sad as this may sound, I am not sad that you are leaving. I am happy for you. You will not have to be subjected to the wrath and the disgraceful conduct of a President who understands nothing but punishes all. It would not make a difference, if you were right or wrong in the end. It would be and will be all about what this economic muffin thinks and that is usually so far off the mark, it can not be measured.
39
Who says she is leaving? Her term as a governor does not expire until 2024. Wait until she resigns to say goodbye.
1
Congratulations on getting away from the Trump administration, Ms Yellen.
33
Dr. Yellen's term as a governor does not expire until 2024 so she may choose to stay, perhaps depending on whom Trump appoints to the three open seats.
While the only wise choice for the Fed starts with an "E" and ends with an "nd", Powell is exactly the sort of "somehow even worse" we'd all fear covfefe would manage to bring even that institution.
4
Ms. Yellen deserves great thanks for her turn at the Fed Chair. Trump, who seems congenitally incapable of doing the right thing, ever, meets expectations.
15
It's a shame that Trump is not reappointing Janet Yellen, who has done an excellent job and is well regarded by all relevant constituencies. It seems that being female and appointed by President Obama are insurmountable barriers to employment in the Trump administration. Why remove an eminently qualified and successful incumbent otherwise?
133
The only women he appoints (with the exception of Sarah Huckabee Sanders, who has been dressing provocatively lately, albeit to NO effect) are women Trump can grab.
1
Exactly what I had planned to say: Ms. Yellen is female and appointed by Obama: two reasons in Trump's mind why she can't continue to be Fed Chair, despite her "excellent" work.
Trump's primary focus is on undoing any and every thing he can that Mr. Obama did. Therefore, Ms. Yellen could not continue as chair.
5
Is the objective of this appointment nothing more than Trump replacing someone Obama appointed?
21
Since Yellen did a great job with the economy but served under Obama, Trump had to get rid of her. Now we have an lawyer instead of a trained economist. Guess the bust is coming.
3
Well, it keeps with Trump's standard operating procedure of rejecting anything or person associated with the Obama administration, regardless of merit.
Hopefully this guy won't be under investigation soon, or have to resign due to other forms of unacceptable behavior.
What the heck, let's even hope that he's competent. Why not? We can dream, can't we?
12
Jerome Powell was appointed to the Board of Governors by President Obama in 2012.
Jerome H Powell,
Congratulations on your nomination. Please, make note of the following quote, “Based on his record, I am confident that Jay has the wisdom and leadership to guide our economy through any challenges that our great economy will face.” That is Donald J Chaos & Co. making you the fall guy for any negative news on our economy.
10
"breaking with precedent". But, then again, other Fed chairs had not been appointed by Obama.
Just as the Kremlin used to re-write history and remove ousted leaders from group pictures, so is Trump determined to erase eight years of American history.
Elections have consequences, some of which are re-writing and/or ignoring the past...
3
President Obama appointed Jerome Powell to the Board of Governors.
Wells Fargo, HSBC and other banks are having a party. This guy is going to finish bankrupting the country by using the Pretend King Trump's tax plan as a prop. We should make sure that they pay a high price for their con game, like prison or better yet, confiscating all their assets to pay for the damage they are about to unleash. We are bracing ourselves for all the snakes to come out and play their games. Where is our dragon slayer? Apparently asleep, so that leaves us to fight them one at a time.
3
Is #45 going to have the portrait of #44 taken down from its place among all former Presidents? So sad! What is happening to our Republic?
7
Another millionaire investment banker. Fancy that.
18
Replacing an Obama appointee. Surprise surprise surprise.
2
This is another reckless move by the ready-fire-aim President, more intent upon making his mark than on making good policy. Yellen was doing an excellent job during extremely challenging times, and promised to continue that efficacy. Decades of tradition, and the common sense of Murphy's Law, said to leave her in the post. Add this appointment to the pile of things to worry about, as Trump has someone else learn on the job while the entire world feels the consequences.
12
Were it not for 3 indictments and one guilty plea which shook Trump to the core there would have been a more Trumpian nomination to head the federal reserve. I was expecting a member of the Trump family or Paul Manafort until he was indicted.
Then someone told Trump that the Senate must ratify the appointment and that the head of the Federal Reserve, must be able to read and write and know how to balance a check book. So Trump decided to play it save because a wacko appointment may start Congress thinking about a new president. Trump was forced to pass up a chance for outrage as he wonders who among the indicted are turning states evidence. It's only right that Putin start paying some of Trump's legal bills,
5
Clearly the most important attribute that Powell has is that he was not appointed by President Obama. Yellen was, so she must go.
47
Powell was appointed by President Obama to the Board of Governors.
You forgot one of the two major problems Yellen presented. She not only was appointed by Obama, but she is also a woman. Yellen was obviously doomed despite the steady, much respected job she was doing.
3
Powell was nominated to the Fed BOG by Obama.
He has no formal training in economics. Janet Yellen is one of the most respected scholars in the world in Monetary economics. Inequality doesn't mean that a woman (or person of color) can't get a job - it just means they have to be twice as good to get the same job.
54
My best friend is an Emerita Professor of Economics of the heterodox persuasion (look it up). I am sure that she and many of her well credentialed colleagues would affirm on the sly that some of us with other professional experience/credentials have as a pretty good grasp of the tenents of the so-called the dismal science. Some of the formal training in economics over the years has been pretty unuseful in real world contexts. I don't know anything about Jerome Powell beyond what I have read here, he may be great or awful. But a lack of formal training in economics, especially when this man was young, is not much of a barrier to understanding it. Sometimes that lack is useful because a lot of "classical" economics is not exactly realism. Behavioral economics which has recently won some people Nobel Prizes wasn't in the curriculum then.
1
There really was never any doubt that Donald Trump would choose not to reappoint Janet Yellen to the post, after all she had ties to the previous administration...and she was a woman.
66
"President Trump is breaking with precedent"
Well if that's not the understatement of the year I don't know what is.
34
“He’s strong, he’s committed, he’s smart,” ...now where have I heard that before? Mr. Powell may well be, but any endorsement coming out of Donald Trump's mouth is, all too often, nothing more than an oxymoron.
6
what we don't need is a lawyer in a role which should be held by an economist.
55
I'm an economist ... after the last 10 years. Best we have a change .. the last thing we need is more of the same ... Calm is what some like to call it . It's something else to most of the country
1
May Mr. Powell be successful in keeping the economy moving forward. And, best of luck in maintaining his sanity and dignity under this administration.
27
well this appointment should remove any illusion that trump's populist campaign rhetoric was anything more than empty promises.
this appointment is purely political and done to have someone who will work for significant bank and financial institution deregulation.
his lack of macroeconomic expertise ensures a far more receptive fed chief to political pressure and influence.
65
This will help the push to needlessly cut taxes for the wealthy and reduce vital regulations on the financial industry whose moral compass has no truth north.
47
Seems like a decent choice and a new face with experience to ensure steady economic growth.
3
Sorry to tell you, it's going to take more than a new face with experience to ensure steady economic growth.
5
"Most expect Mr. Powell to maintain the slow but steady approach Ms. Yellen has taken", but with the added bonus of NOT being a woman and NOT having been chosen by an African-American President.
Hail to the Misogynist-And-Race-Baiter-in-Chief !
'You tiny, tiny, tiny little man' ---- J.K. Rowling (on Donald Trump)
237
I hope that it isn't lost on anyone that Trump has once again replaced a highly respected woman with a white male, once again eschewing any sense of the diversity of highly talented people available to fill this position.
11
If not having ever had Obama as President would have spared us a Trump presidency, I'm sure that's a trade off all of us would make.
2
One might also add that Mr. Powell does not appear to be Jewish, appeasing Trump's alt-right supporters.
8
This article is critically inaccurate. As a former communications adviser at the Fed, I can say with certainty and a well-informed perspective that the current conventional-wisdom spin on Jerome -- that he is in most respects similar to Yellen for most intents and purposes -- is incorrect. To the Times' credit, this article lists some of the differences, but it would be a mistake to consider those differences marginal or minor; they are huge. From Jerome's advocacy of higher interest rates compared with Yellen, through his history of encouraging Bernanke to articulate publicly the expected strategy for unwinding the Fed's massive Treasury purchases, through the likelihood that he would take less bold action than Bernanke did when faced with a major financial crisis, and, most important, his positions on a range of banking regulation issues, Jerome represents a very substantial departure from Yellen's steady hand at the helm. Don't take his advocacy of so-called "cost-benefit analyses" of banking regulations as harmless: that is the open door that banking lobbyists have been craving to water down the rules aimed at restraining them from again putting our economic welfare at grave risk and plunging us again into recession.
179
Do you have references for these claims? Not intending to come off as condescending, just genuinely curious. I know nothing about Mr. Powell.
1
CORRECTION: I tried unsuccessfully to revise the first sentence of my comment above to read "This article might not have fully highlighted how important some of the differences between Powell and Yellen could turn out to be (though Powell is certainly closer in approach to Yellen than Trump's other candidate, Taylor, would have been)." It was an exaggeration to write "critically inaccurate" but the new wording I wrote apparently made the comment too long and accidentally the comment was posted unrevised. Apology to the article's authors. In particular I've always admired Binyamin Appelbaum's reporting.
I think Mr. Kahn stated his references as personal experience at the start of his second sentences. The 150 character limit on posts percludes an exhaustive recitation of examples. I also know nothing about either Mr. Powell nor Mr. Kahn except what I read here.
The American public has vibes that there is a lack of diversity in key leadership positions at the Federal Reserve. President Trump made a good decision by choosing Jerome Powell as the new Fed Chairman. His different mindset and unique background will help him reinvigorate the Federal Reserve. Sticking with a small exclusive group of people to lead powerful institutions like the Federal Reserve would only make Americans more distrustful of them.
9
Surely you jest? How does promoting another old wealthy white male make anything more diverse? All of DJT's appointments have been notable for their absolute rejection of diversity, and this one is just the latest example.
9
"Lack of diversity," as in get rid of one of the few women in a prominent position in Trump's Washington, oh, I get it. Yeah, right.
10
Donald Trump NEVER makes a good decision.
4