10/28/20 Power Five

1. The World’s Best Bureaucrat – “So when (Jay) Powell got to the board, he set about learning everything he needed to know about monetary policy, drawing on the Fed’s staff of over 400 economists. He read extensively and didn’t give his first public speech until eight months after he took his seat on the board.

2. Utah Parents Avoid Testing Their Children to Keep Schools Open – You know it’s bad when you make the news in the United Kingdom. “Please STOP getting tested!!! It is 100% unnecessary…All it does is give the government and school district officials the power to control us.”

3. The President Looks Back on His Toughest Fight – The battle to expand health care access to millions, from President Obama himself. First volume of his memoirs, A Promised Land, comes out November 17.

4. Why Own Bonds When Rates Are So Low? – “We buy stocks so we can eat well, but we buy bonds so we can sleep well.”

5. The Erasure of Mesut Özil – What happens when a player speaks out against the Chinese concentration camps of the Uighur Muslims? Arsenal F.C. and the entire league is forced to choose between supporting one of their own or siding with a profitable and growing market. Spoiler alert: they chose China.

Chart of the Day

Who Owns U.S. Stocks? – Tax Policy Center