Bloomberg Columnist Likes PEU Powell Nomination

Fed Chair nominee Jerome Powell has a strong supporter in the author of "Fed Up:  An Insider's Take on Why the Federal Reserve is Bad for America."  Danielle DiMartino Booth wrote:

The sheer breadth of Powell’s experience is refreshing compared to what we’ve had for the past 30 years. Powell has a deep understanding of the law and politics. 

At the Carlyle Group, Powell founded and ran the Industrial Group within the Buyout Fund. A separate missing characteristic among Fed leaders for the past 30 years has been a woeful lack of understanding as to how Fed policy effects corporations and the decisions CEOs and CFOs make driven by Fed policy, the most obvious of which has been debt-financed share buybacks at the expense of capital expenditures.

Future Fed Chair Powell's Carlyle Group executes a private form of the above strategy, debt financed dividends at the expense of capital expenditures and my addition, employee raises..  

Author Danielle DiMartino Booth and Carlyle co-founder David Rubenstein share frequent appearances on Bloomberg and CNBC.  Rubenstein has his own show on Bloomberg. 

DiMartino Booth is a full-time columnist for Bloomberg View, a business speaker, and a commentator frequently featured on CNBC, Bloomberg, Bloomberg Radio, Fox News, Fox Business News and other major media outlets.

Below is a core message of Fed Up, according to Amazon.

While easy money has kept Wall Street and the wealthy afloat and thriving, Main Street isn’t doing so well. 

America's new Fed Chair grew wealthy from his time with The Carlyle Group, a politically connected private equity underwriter (PEU).

In 2017, Powell reported that he had a net worth of between $19.7 million and $55 million, making him the richest member of the Federal Reserve Board of Governors.

I expect Jerome Powell to look after his wealthy peers as Fed Chair.  He should face easy approval as politicians Red and Blue love PEU.

Update 11-9-17:  Billionaire peer lover and corporate fan Trump's Fed will help whom?  Fed Chief Alligator Powell will govern one corner of Trump's D.C. swamp.