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Keep Powell in Top Fed Job, Former Vice Chair Blinder Says

Thursday, July 8, 2021
Keep Powell in Top Fed Job, Former Vice Chair Blinder Says © Reuters. Keep Powell in Top Fed Job, Former Vice Chair Blinder Says

(Bloomberg) -- President Joe Biden would be well advised to offer Jerome Powell a second term as chair of the Federal Reserve to preserve policy stability as the U.S. economy recovers from the pandemic, said former Fed Vice Chair Alan Blinder.

“Jay Powell, I think, has done a really outstanding job at the Fed and if President Biden was asking me -- which he isn’t -- I would advise to keep Jay Powell in place,” he said Wednesday during an interview on Bloomberg Television’s Balance of Power with David Westin. “Not so much as a reward for good behavior, although you could say that he deserves a reward, but just for the stability that it represents.”

Powell, whose term expires in February, has so far deflected questions in public on whether he’d stay in the job if asked, while leaving the impression intact that he would welcome another four years at the Fed’s helm.

“It’s not the case, at least in my view, that the Fed’s been going astray and needs its leadership changed,” said Blinder, who’s a professor of economics and public affairs at Princeton University.

©2021 Bloomberg L.P.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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Neutral

Moving Avg:

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

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Euro Stoxx 50

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US Small Cap 2000

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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