Stephen Moore: Fed's Powell May Enact 'Corporate Welfare' to Keep Job

Federal Reserve Board Chairman Jerome Powell will likely cozy up to Joe Biden as a way to ensure his reappointment come February 2022, says conservative economist Stephen Moore, who warns that the situation could lead to “corporate welfare.”

Moore expects that Powell won’t cross Biden too much as he attempts to lock in another four-year term as Fed chair. Moore said sources at the Fed told him that Powell loves the job and that he wants to keep it. “He will want to curry favors with Biden to make sure he is reappointed,” Moore said of Powell.