He isn’t especially bothered by global warming. He doesn’t think monetary policy has very much, if anything, to contribute to combating racism, promoting gender equality, or making the world a fairer place. And he doesn’t want to go to war with Wall Street, or bring any billionaires to heel. By re-appointing Jay Powell, a Republican first chosen by Donald Trump, as chairman of the Federal Reserve, Joe Biden has finally stood up to the Democratic party’s left wing.