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Exklusivt: Will Biden Make a Historic Mistake at the Fed?
- Publicerad
De senaste 30 åren borde ha lärt demokraterna att sätta sina egna ekonomiska politiska prioriteringar före symboliska gester av ”bipartisanship”. Om USA:s president Joe Biden inte ersätter Federal Reserve-ordföranden Jerome Powell med Lael Brainard kommer han nästan säkert att ångra det. Det skriver J. Bradford DeLong, professor i ekonomi vid University of California, Berkeley, tidigare biträdande assistent till amerikanska finansministern och forskningsassistent vid National Bureau of Economic Research. Texten är på engelska och publiceras exklusivt på Realtid.
Realtid.se
In 1987, Alan Greenspan was appointed by Republican President Ronald Reagan to chair the US Federal Reserve Board of Governors, succeeding Paul Volcker. Eight years later, President Bill Clinton, a Democrat, was impressed by Greenspan’s willingness to use monetary policy to offset his administration’s fiscal retrenchment. This kept growth from stalling in the 1990s, and Greenspan did it despite partisan opposition from Republicans who denounced him for too-loose monetary policy. In 1996, Clinton reappointed Greenspan to a third term, and then to a fourth in 2000.