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One of the big issues that worried me about president Trump was who he would appoint as Fed chair, and board given the number of openings. Although I would have preferred a phd (unless it was Geithner), and even Yellen, Powell is a reasonable pick. His views on banking regulation seemed to be more aligned with me than Yellen. Taylor (a phd) would have been a poor choice. We'll see how he fills the other board seats.

+1

I really didn't know anything about him

Don't know anything about him, but glad it isn't Yellen. She was clueless, going back ten years. Hung up on employment numbers as the driver for every vote or decision, without even understanding the employment issues in her own SF region. Glad she's gone.

As for PhDs, the Fed has too strong an emphasis on hiring only PhDs as analysts, etc. Most have no real world experience. They are hung up on their backward looking financial models that are seldom right. The know nothing about the actual businesses of finance, banking, investments, the markets, etc.

133743Hokie wrote:Don't know anything about him, but glad it isn't Yellen. She was clueless, going back ten years. Hung up on employment numbers as the driver for every vote or decision, without even understanding the employment issues in her own SF region. Glad she's gone.

As for PhDs, the Fed has too strong an emphasis on hiring only PhDs as analysts, etc. Most have no real world experience. They are hung up on their backward looking financial models that are seldom right. The know nothing about the actual businesses of finance, banking, investments, the markets, etc.

He has voted with Yellen. Yellen was too hawkish and should not have raised rates so soon. With that said (as pointed out by me at the time) rates dropped after her initial rate rise.

What do you think Yellen should have done differently?

TheH2 wrote:One of the big issues that worried me about president Trump was who he would appoint as Fed chair, and board given the number of openings. Although I would have preferred a phd (unless it was Geithner), and even Yellen, Powell is a reasonable pick. His views on banking regulation seemed to be more aligned with me than Yellen. Taylor (a phd) would have been a poor choice. We'll see how he fills the other board seats.

I read a Bio on him in WSJ. Basically, he won't rock the boat. He's the antithesis of trump in that sense. We'll get more of the same of what we got with Bernanke and Yellen. He won't be a Volcker or Greenspan.