when it comes to the pursuit of full employment, I would much rather have Jerome Powell as Fed Chair than Raphael Bostic axios.com/atlanta-fed-ra…
in an implicit rebuke of Powell's push for full employment, Bostic gave a big speech criticizing the pursuit of high pressure economy and using the CBO's definition to argue again periods of low unemployment atlantafed.org/blogs/macroblo…
in November 2019, Bostic said he would have voted against the rate cut because "my directors were pretty much in the hold stage [with interest rates], so that’s probably where I would have come down for that meeting." wsj.com/articles/fed-s…
I objected to Bostic's graph - bad things automatically happen when unemployment goes below CBO's definition of full employment - and he was nice enough to respond. You can see the back-and-forth here:
https://twitter.com/RaphaelBostic/status/1195478200220102656?s=20
some folks are pushing back on "implicit rebuke" in this tweet. my argument is that by August 2018 Powell was already quite dismissive of u* - which Bostic quite clearly defends. My argument need not rest on the rebuke. Just read the speech.
https://twitter.com/sam_a_bell/status/1396826075196502022?s=20
for contra take, see below. Fair point -- Powell evolved (and originally I was skeptical of him!) so why can't Bostic? He certainly could! My read: weight of recent evidence makes me think Powell is much more committed to pursuit of full employment
https://twitter.com/DionRabouin/status/1396834564115292165?s=20
Some folks are objecting to these quotes. I don’t mind at all. These are big jobs and there is obviously competition. Why not answer honestly when someone asks what you would be like as Fed Chair? 
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