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Disciples of continuity

US President Joe Biden opted for ‘continuity’ and decided to reappoint Powell.



Somebody in the Biden administration must be an avid reader of President Rodrigo Duterte and his determined thrust to improve the state of the nation.

Regarding the choice of the head of the US Federal Reserves after Jerome Powell completed his term, US President Joe Biden opted for “continuity” and decided to reappoint Powell.

Powell is a Republican and was ranged against Lael Brainard, whom progressive Democrats believe would be tougher on banking regulation.

Taking office in 2018, Powell has led the US central bank’s response to the massive pandemic downturn, which saw it reduce lending rate to zero and roll out trillions of dollars in liquidity.

The US Fed move was deemed pivotal since other nations pattern their moves on the gearing of the world’s biggest economy.

Biden praised Powell for providing “steady leadership during an unprecedently challenging period, including the biggest downturn in modern history.”

The White House, likewise, submitted an economic stimulus package worth $1.8 trillion, which was named the Build Back Better Act.

The US House of Representatives approved the bill, which now goes to the Senate where intense debate is expected.

“Build Back Better” was coined by the economic managers of Mr. Duterte regarding the efforts to rehabilitate Marawi City, which was devastated by a five-month skirmish between Islamic State-backed insurgents and state troops that started in May 2017.

Continuity is the battle cry of Senator Christopher “Bong” Go in his crusade for the presidency.

Coming from two years of the worst economic downturn in recent history as a result of the debilitating quarantine impositions meant to contain the spread of Covid-19, the rudder of the economy and governance should be placed in the most capable hands.

Who is better to anoint the agent of continuity than the President himself, and his choice was Go.

“Continuity of the Duterte legacy is our foremost goal. I pledge to keep the excellent programs that have benefited Filipinos over the last six years going,” Go said.

The same line of thought about not taking the risk from a sudden shift away from a proven formula during the pandemic guided Biden in choosing Powell.

The urgency of continuity is more pronounced for the Philippines, which is moving decisively to reclaim its spot among the planet’s economic pacesetters.

While many of the candidates have unveiled what appears, at first glance, to be impressive programs if they are voted into Malacañang, the blueprints, nonetheless, are mere plans that needed the coordinated act of government to be realized.

Go’s offer is to pursue programs hailed globally to have reinvigorated the economy, which is termed as a “whole of government approach” since it did not only involve economic but also peace and order policies.

The economic thrust of the Duterte administration, for instance, was anchored on his campaign to end the narcotics trade that in turn resulted to a groundswell of confidence, including that on business.

Confidence fueled a growth averaging more than six percent prior to the pandemic and a constant confidence level of clearly majority of respondents in surveys conducted.

During their final stretch, most leaders throughout the globe had to contend with irrelevance, but President Duterte continued to average 70 percent or more in trust and satisfaction ratings in the twilight of his term.

People’s ironclad confidence on the President is the best argument in favor of continuity.