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How Biden Can Keep Jerome Powell and Make Progressives Happy

It looks like the Democratic president faces a difficult political choice concerning the Republican Fed Chair. But he has options.

Jerome Powell
Jerome Powell

Photographer: Graeme Jennings/Washington Examiner/Bloomberg

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In Washington, the U.S. Federal Reserve is theoretically above the fray. But in these hyperpartisan times, both Democrats and Republicans are keen to keep the chair’s seat in their camp. As a result, President Joe Biden may have a tough decision to make this fall in whether to retain the central bank’s current chair, Jerome Powell, who happens to be a Republican. On this week’s podcast, host Stephanie Flanders delves into Biden’s options with Bloomberg Fed reporters Craig Torres and Rich Miller.