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In this episode of Bitcoin Magazine’s “Fed Watch'' podcast, Christian Keroles and I got listeners up to speed on Jerome Powell’s reappointment as chairman of the Federal Reserve, the recent leaks as an attempt to sabotage that reappointment, and news on the current state of monetary policy at the European Central Bank (ECB) and the Bank of Japan (BoJ).
Then, we had a lengthy conversation about geopolitical developments as they pertain to the U.S., Europe, and the shift to the Pacific, tying in bitcoin as part of the coming great game. Of course, we covered the Bitcoin ETF (BITO) that launched this week as well. It’s a little bit of a different episode, kind of a “this is where we are in the world of central banking” discussion.
Drama Around The Powell Reappointment
Several days ago, Powell’s personal trading transactions[9] were “leaked.” They showed a few large transactions, but nothing untoward going on like insider trading. In fact, it is an interesting window into his personal beliefs, because his personal transactions speak louder than words.
This leak comes on the heels of similar leaks about Governors Rosengren and Kaplan, who were forced to resign in the associated controversy. Powell came out smelling a bit like roses. Initially, his chances for reappointment as tracked on the website PredictIt fell sharply, but within 24 hours, as the market had time to digest the news, his chances rebounded to higher than before, bottoming around 65% and then quickly rebounding to 76%.
It looks as though Powell will get another term. Lael Brainard appears
