Journal Editorial Report: The White House and Powell Fed have different ideas about inflation. Image: Samuel Corum/Bloomberg NewsSocialist governments in Latin America, along with China, wanted to topple the American president of the Inter-American Development Bank, Mauricio Claver-Carone. But the U.S. owns 30% of the bank and the anti-American left in the region needed the Biden Treasury’s help.
They got it on Thursday, when Treasury’s representative on the IDB’s executive board of directors, Fabiana Jorge, led a vote in favor of Mr. Claver-Carone’s dismissal. The matter now goes to the full board of governors, which is expected to vote this week to end the tenure of the only American president in the bank’s 62-year history.
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