…he can guarantee, also, a “No” on Lael Brainard. She, after all, was the only other serious potential nominee for Fed Chairman.

Senator Tom Cotton (R, AR) wants a no vote on Jerome Powell’s nomination for a second term as Fed Chairman.

I disagree.

At least Powell is a devil we know and so whose behavior we have a chance to predict. Brainard, on the other hand, refuses to confirm whether she’s a capitalist or a socialist, forcing us to reject her on the risk that she’s a socialist. Alternatively, Brainard is unable to say whether she’s a capitalist or a socialist, forcing us to reject her on her incompetence.