It suits both the US President and Fed chief that the latter delays any winding back of monetary stimulus. What motivates them, though, is the difference between economics and politics.
Washington | The two captains of Team America – US President Joe Biden and Federal Reserve chairman Jerome Powell – are doing everything they can to make spending cheap money a harmless, economy-building pursuit.
The risks to this are high, though, and neither is likely to be in their jobs four or five years from now, when the consequences may be more evident.
