Jerome Powell’s term as FED Chairman will expire in February. Reports and rumors say that Powell and Fed governor Lael Brainard are Biden’s top candidates for Federal Reserve Chair. Biden may announce his pick Tuesday during a speech about the U.S. economy. The economy in general has been suffering tremendously as the uncalculated side effects of lockdowns, and mandates have crippled supply chains and the labor market. The FED has one real weapon against inflation, and it is raising interest rates. It is not a matter of “if” it is a matter of “when”. As the interest rates are risen we can expect a massive surge of inflation as people spring into action locking in the lowest rates possible, and finally with buying pressure released prices will fall to meet demand.
