WASHINGTON—For U.S. President Joe Biden to be true to his agenda he should not renominate Jerome Powell as Federal Reserve chair, Nobel prize-winning economist and longtime Democratic adviser Joseph Stiglitz said in an interview that laid out the case for a remake of the Fed’s leadership.
“People have given Powell a lot of kudos because he has supported the economy through the pandemic ... On one hand I agree with that,” Stiglitz, now a Columbia University professor, said in a Friday phone interview with Reuters.
