Weighing Fed Nominees, Biden Administration Faces Delicate Political Test
September 10, 2021
Eswar Prasad, SAP
"There was a sense among some in the administration that keeping Powell at the top and having the other vacancies [go to left-leaning candidates] gave them a relatively easy path to accomplish a broad range of things, from keeping markets from reacting in a negative way, to keeping both moderates and progressives happy,” says Eswar Prasad, professor of economics and international trade policy.