Commentary
With inflation raging at its highest level in over 30 years, President Biden reappointed Donald Trump’s Federal Reserve chairman, Jerome Powell, this week, patting Powell on the back for resisting Trump’s supposed attempts at interference in monetary policy. But if Powell has to do anything akin to what the Fed had to do to clean up Jimmy Carter’s inflation, history suggests that Democrats won’t be shy in slamming him, no matter who it was who appointed him to steer the nation’s central bank.
