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rid US of this generational TRILLION$ failure feddler = PLEASE...

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    rid US of this generational TRILLION$ failure feddler = PLEASE NO re no min at i on (renomination) = BIGGEST = OUT

    Analysis-Powell, juggling policy and renomination, now faces an ethics blowup



    WASHINGTON (Reuters) - It is perhaps as predictable as it is problematic: Within days of news that two Federal Reserve bank presidents had engaged in controversial stock trades, one of the fiercest critics of the U.S. central bank's financial system oversight demands new ethics rules that would bar such dealings in the future.
    For Fed Chair Jerome Powell, however, it is the wrong problem at the wrong time. Under consideration for reappointment as Fed chief while also juggling how to pull off a critical change in U.S. monetary policy, Powell faces a controversy of the Fed's own making that helps reinforce arguments by progressives for broader change at the central bank.
    Powell remains favored for renomination by President Joe Biden, and if history is a guide a decision may come in the weeks between the Fed's policy meeting next week and its two-day session on Nov. 2-3. That would match a point in the calendar when the last two Fed chair appointments have been announced.

    Democratic Senator Elizabeth Warren's Wednesday letter https://www.warren.senate.gov/imo/media/doc/Letters%20pdf.pdf to the Fed's 12 regional presidents asking them to "impose strong and enforceable ethics and financial conflicts of interest rules" and send her an action plan "no later than Oct. 15," is at a minimum a distraction to Powell at a time when he is steering the Fed through complex debate over monetary policy.

    The Fed meets next week and is expected to take a potentially decisive step that flags likely changes to some of its pandemic crisis programs at an upcoming meeting. It is the type of moment that requires deft communication at the Fed chair's post-meeting press conference - now muddled by likely queries about his colleagues' investing habits and the possible blow to public trust.

    “Institutionally, it’s a bad look,” said Tim Duy, chief U.S. economist at SGH Macro Advisors and an economics professor at the University of Oregon. "It’s better to get ahead of this."

    Powell has moved to do so, launching a broad review of the Fed's rules governing investments by senior officials. [L1N2QI1D0]

    But unless change comes quicly, Warren's direct demands set up a possible clash with a key Democratic lawmaker when Biden's eventual Fed pick goes for Senate confirmation.
    + a few more paragraphs =

    Analysis-Powell, juggling policy and renomination, now faces an ethics blowup (msn.com)





    Last edited by Goldnumber: 17/09/21
 
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