14 Comments

If Brainard gets the nod, the money printer will need 1.21 Gigawatts to kick into hyperdrive.

Expand full comment

This was one of the topics Grant Williams asked Danielle DiMartino Booth (I assume readers of this blog know who hey are) in a recent podcast. Her opinion was that Brainard, though obviously a preferred candidate for the progressives, is unelectable in the Senate.

Expand full comment

I see a Cloward-Piven Strategy in play. Brainard would be a good choice to further that agenda.

Expand full comment

The Emperor Has No Clothes

God applied to be a central banker

but had too much integrity and compassion

the Devil stood a better chance

they could mold him in their fashion

The Emperor has no clothes

no need of them to chair the Fed

above the White House and the law

The Chair has no need to get ahead

such a cosy Old Men’s Club

with just a couple of women keeners

is it any wonder Elizabeth Warren

is taking Jerome Powell to the cleaners?

the creature from Jekyll Island

could certainly use a good clean

are his ethics up to par?

depends on your political lean

sure, committees will ask questions

in somber tones with furrowed brow

the trappings of democracy

played out for the crowd

but nothing sticks to the Fed

this Teflon creature so many exalt

even when all Hell breaks loose

it is never the Fed’s fault

no matter who wins the White House

whatever the Oval Office scheme

forget Congress and the Senate

the Fed Chair reigns supreme

will Powell ‘earn’ a second term?

the debate is quite lame

for Lael Brainard as Chair

would bring more of the same

so spare yourself the angst

the question is rather moot

as to who chairs the Fed

it does not matter a hoot

no matter the name for decades

Greenspan, Bernanke, Yellen, Powell

the doublespeak and bafflegab so thick

you could spread it with a trowel

for behind the veil of privilege

The Nameless run the show

do they answer to anyone?

will we ever really know?

Padraic Slater

Bard from Kitsilano

Poetree Unlimited

Expand full comment

Looks like we should expect an announcement at the end of the week. Seems to me that if Powell was going to stick around, we'd already know. With 3 (4?) empty seat due to resignations, this is a major chance to remake the Fed...I doubt the left will pass up this opportunity.

Expand full comment

Brainard in, yes. Powell - ready for the golf course.

In the Arch Crawford tradition, I looked up her natal chart. She's just downright talented, and as for her transits (temporary planetary influences for good or ill), they are all flashing green lights for positive change for her, with a lot of momentum toward goals. 2022 looks favorable for her - she's not going to captain a sinking ship. I see her being teflon-like. Nothing bad will stick, at least in '22.

Expand full comment

Either way we are all fucked.

Expand full comment

don't see how Brainard could be approved by senate, whereas I think Powell is easy ok. and why would Joe would want to take on this political battle when he already has Powell being fully compliant. so I predict joe will just carry on with jpow

Expand full comment

LB all the way. Now will PMs take off?????

Expand full comment

Think Powell is renominated. If he isnt,market tanks for real and Biden loses all political capital so it's whatever MMT dreams they had with Brainerd don't matter anyway.

Expand full comment
Nov 15, 2021Liked by Quoth the Raven

anything biden et al would put forward here, would be worse than ever before. PERIOD.

Expand full comment
Nov 15, 2021Liked by Quoth the Raven

Powell will survive but he will bend to the will of the administration. The only thing I can see derailing that is if he becomes so unpopular that Powell will finally grow some balls and do the right thing. If it starts too look like a complete wipeout in ‘22 and possibly 24 then the Dems may want to put their version of a stink bomb at the Fed and get to put their policies in place without being in power. What’s interesting is if they truly believe MMT is good for the country, would they want that “benefit” credited to the Republicans who could be in power during this crazy experiment. I personally think that they are writing off ‘22 and want all hell breaking loose to be blamed on the Republicans. These people really could care less what is good for the country IN THE LONG RUN.

Expand full comment
Nov 15, 2021Liked by Quoth the Raven

Whoever winds up as chairman will only be there because they promised Ron Klain they will do whatever 46 wants, no questions asked. For this White House, there is no room for non-compliance. Although, they kept Fauci, despite his horrible image issues suggesting anything is possible.

Expand full comment