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He did fine in some respects (dollar swaps with foreign CBs) and horrible in others (MLF).
Even the MLF was a good idea in principle, it was just priced too high to be useful to local govs. And even then the prices got cut in August! The broader point is just that the fed has done a whole lot of actual good, it's not just "good optics" or whatever
The MLF *remains* a *great* idea in principle, but Powell as Fed Chair has abdicated his *chief administrative duty* to administer the MLF in a way that is consistent with human needs, and this is true even after the moderate price cut in august.
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