As President Biden considers who should lead the Federal Reserve Board when Chair Jay Powell’s term ends in February, it is imperative that his administration conduct a robust, thorough, and comprehensive assessment of any candidate, including especially Chair Powell.
Better Markets report “Should Federal Reserve Chairman Jay Powell Be Reappointed?” provides such an assessment and makes clear for the American people—from Main Street to Wall Street—what is at stake, what should be considered in the process, and the record of Chair Powell.
A searching, thoughtful process is critical because at least four of the seven seats on the Federal Reserve Board will open up before the end of February. Those personnel decisions will affect not just Fed policies for years to come, but also every American who needs or wants credit wants to buy or sell a home, start or expand a business, or engage in virtually any activity that includes financing or capital. President Biden has a rare opportunity to put his imprint on the Fed, the economy, and the banking system for years to come and the selection process should reflect the gravity of those facts.
Our report and the supporting materials are must-read content for Fed watchers and concerned Americans alike.
SPECIAL REPORT: Should Federal Reserve Chairman Jay Powell Be Reappointed?
REPORT SUMMARY: Should Federal Reserve Chairman Jay Powell be Reappointed?
Better Markets Key Information
Blog Post: Fed’s Lael Brainard’s Outstanding Record Fighting Wall Street and Protecting Main Street
Press Release: Better Markets Releases Report: “Should Federal Reserve Chairman Jay Powell Be Reappointed?”
Press Release: Contrary to His Statements to the Senate Banking Committee Today, Federal Reserve Chair Powell Has Dangerously Deregulated Banks
White Paper: Federal Reserve Actions Under the Trump Administration Have Significantly Weakened Post-Crisis Banking Protection Rules
White Paper: No Financial Crash Yet Thanks to Dodd-Frank and Banking Reforms
Key Media Articles
Joe Biden’s Fed conundrum: Stick with Jerome Powell or let him go?
CNN, October 21, 2021
We Need More Women in Leadership at the Fed: Personnel is Policy
Ms. Magazine, October 18, 2021
Powell’s Reappointment Looks Shakier
American Prospect, October 18, 2021
For the Sake of Working People, Lael Brainard Should Lead the Federal Reserve
Marketplace, October 1, 2021
Warren Says She’ll Oppose Second Term for Powell
The Hill, September 28, 2021
Wall Street Eyes Four More Years for Powell at Fed
Reuters, September 27, 2021
Should Biden Reappoint Jerome Powell? It Depends on His Theory of Change.
New York Times, September 14, 2021
Biden’s Fed choice: Follow Trump’s path, or pass over the Democrat
Politico Pro, September 13, 2021
Fed chief Powell’s record ‘mixed,’ think tank says
Reuters, August 23, 2021
Progressive Opposition to Jerome Powell Clouds His Chances for Second Term as Fed Chairman
The Wall Street Journal, August 10, 2021
Brainard Differs With Powell Ahead of Biden Fed Chair Choice
Bloomberg, August 1, 2021
Fed Chief Powell Enjoys Support for Reappointment, but He’s Not a Lock
The Wall Street Journal, July 21, 2021
Wall Street Watchdog Assails Fed’s Stress Tests of Mega Banks as “Toothless” – Provides a Wakeup Call to Biden Administration
Wall Street on Parade, July 2, 2021