Editorial, online version subtitled “Republicans are under no obligation to endorse his Fed nominees,” includes “One lesson of the long fandango over his reappointment is that Washington and Wall Street will apply intense pressure to keep the easy money running as long as possible. See Monday’s favorable stock-market reaction. This is where the doubts about Mr. Powell are most acute. Wall Street favored his selection on grounds that he is somehow more independent than Ms. Brainard. But we’re still waiting for evidence. He’s endorsed the fiscal blowouts that please Democrats on Capitol Hill. …”
Read the full article on: The Wall Street Journal