

Honestly, I think he’s just a political opportunist, with no real convictions. He sets his sails with the direction the wind is blowing. He’s nominally a democrat, because that is the prevailing party in California, but I guarantee he’d flip if the political calculus were in favor of doing so.
While the article is accurate, in that long bond rates are set by the market and would likely rise if Powell were fired, that isn’t the whole story. The Fed could move to push the long bond rates down with quantitative easing - printing money to buy the bonds to keep the rates low, expanding it’s balance sheet. It’s what was done in the wake of the 2008 financial crisis and again following covid. Of course, that would boost inflation, which is already elevated, and fuel asset bubbles, and would be an imprudent course of action, but lets be real, it’s likely what is going to happen.