The Left Wants Jerome Powell Gone. Biden Should Keep Him Around.

Jerome Powell is the most worker-friendly Fed chairman in memory. So why do so many progressives want him out?

The other night, my 3-year-old asked me to tell him a bedtime story. I am, unfortunately, very bad at coming up with original material, so I told him Aesop’s fable about the dog and the piece of meat. You know the story: a dog was carrying a juicy piece of meat in his mouth, on his way to a quiet place where he could eat it in peace. Along the way, he crossed over a stream, and as he did, he looked down and saw his reflection. Believing it to be another dog carrying another juicy piece of meat, he barked in order to scare the dog into dropping it, so that he could have two pieces instead of one. But when he opened his mouth to bark, he dropped his own piece of meat, which fell into the stream and floated away, leaving him with nothing.

I’m not sure my little boy is old enough to have really understood the story. But as I was telling it to him, I realized there was a group of people who I think would benefit from re-reading the tale: progressives who are trying to stop President Biden from re-nominating Fed chairman Jerome Powell when his term expires in February. Like the dog in the fable, they’re paying too much attention to…