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WSJ reports Trump picks new leader for Federal Reserve: Who is Jerome H. Powell?

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The Wall Street Journal reported Wednesday that President Donald J. Trump plans to nominate Jerome H. Powell to succeed Janet L. Yellen, the current chairwoman of the Federal Reserve Board of Governors.

According to the WSJ:

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

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The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn’t describe what they discussed.

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Mr. Trump had settled on Mr. Powell by Saturday, but people familiar with the process had cautioned that he could change his mind. The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday.

Powell, a graduate of Princeton University and Georgetown Law School, was nominated to the board in 2012 by President Barack Obama, but he is considered a Republican, having served as both the assistant secretary and as undersecretary of the Treasury under President George H.W. Bush.

At Georgetown Law, he was the editor-in-chief of the Georgetown Law Journal.

His business career, Powell worked as an investment banker and attorney. From 1997 to 2005, he was a partner at The Carlyle Group, a private equity firm. Before his joining the Federal Reserve Board, Powell was a visiting scholar at Washington’s Bipartisan Policy Center.

A resident of Chevy Chase, Maryland, Powell is married with three children.

 

Big League Economics

Globalists are Planning ‘Climate Lockdowns’ to Finish Off Economic Prosperity in the West

They are coming for everything.

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While COVID-19 mass hysteria may be waning, the globalists are intent on continuing the trend of locking down society and destroying economic prosperity for the peasants.

After the scamdemic comes to an end, it will be climate change used to pump the masses full of fear and get them to accept Draconian measures to cripple their own civilization.

Mariana Mazzucato, a professor at the Economics of Innovation and Public Value Center at University College London, is setting the stage for climate lockdowns if unprecedented taxation and centralized power are not exerted over the economy.

“Under a ‘climate lockdown,’ governments would limit private-vehicle use, ban consumption of red meat, and impose extreme energy-saving measures, while fossil-fuel companies would have to stop drilling,” Mazzucato wrote in her white paper, Avoiding a Climate Lockdown.” 

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She contends that the only way to stop the inevitability of climate lockdowns is to “overhaul our economic structures and do capitalism differently,” meaning do away with it entirely and replace it with totalitarian socialism.

“[G]overnment assistance to business must be less about subsidies, guarantees, and bailouts, and more about building partnerships. This means attaching strict conditions to any corporate bailouts to ensure that taxpayer money is put to productive use and generates long-term public value, not short-term private profits,” she wrote. 

“Because markets will not lead a green revolution on their own, government policy must steer them in that direction. This will require an entrepreneurial state that innovates, takes risks, and invests alongside the private sector,” Mazzucato contended.

Her writings are already influential, according to the New York Times, among politicians who are using her scribblings as an excuse to take unprecedented power-grabs.

Sen. Elizabeth Warren (D-MA) has incorporated Mazzucato’s writings into policy ideas such as using “federal R & D to create domestic jobs and sustainable investments in the future.” Rep. Alexandria Ocasio-Cortez (D-NY) is considering Mazzucato’s ideas to strengthen her Green New Deal proposal.

Even Republican lawmakers are embracing Mazzucato’s extreme anti-capitalist doom prophecies. Sen. Marco Rubio (R-FL) cited Mazzucato in his proposal, “American Investment in the 21st Century,” which is essentially a manifesto of surrender to the Left from the failed neoconservative 2016 presidential hopeful.

“We need to build an economy that can see past the pressure to understand value-creation in narrow and short-run financial terms,” Rubio wrote in the introduction, “and instead envision a future worth investing in for the long-term.”

Mazzucato has also influenced former British Labour Party leader Jeremy Corbyn, former British prime minister Theresa May, and Scottish leader Nicola Sturgeon. Mazzucato’s reach extends to other countries such as Germany and South Africa, and she is considered a charismatic rising star in the field of economics.

It should be obvious by now that the ruling elites never intend to restore freedom to pre-COVID levels. The lockdowns are a permanent fixture of society now, and they will be reintroduced at some point under the guise of stopping climate change.

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