Off-kilter With Rebecca Vallas

The Federal Reserve, better known as “the Fed,” has been in the spotlight quite a bit in recent weeks, following an apparent insider trading scandal embroiling several high-level officials at America’s central bank. And in the latest shoe to drop, disclosure documents made public in recent weeks reveal that the scandal of stock trading during the pandemic extends all the way up to the chair of the Fed himself—Jerome “Jay” Powell.  With Chairman Powell’s term ending in January 2022, a growing chorus of progressives, climate activists, advocates for racial justice, and economic heavyweights from Nobel Prize–winning economist Joseph Stiglitz to Massachusetts Senator Elizabeth Warren are calling on President Biden not to renominate Powell and instead to use what could be as many as four open seats on the Fed’s all-white, seven-member governing board to reshape the agency into an institutional force for racial, gender, climate, and economic progress—and bring some long-overdue racial and gender diversity to a cr