Trump shattered tradition on Fed chair. Some Dems want Biden to do the same.

Left-leaning activists and lawmakers are pushing President Joe Biden to dump Federal Reserve Chair Jerome Powell for Fed Governor Lael Brainard with a last-ditch message: Don’t miss a rare opportunity to install a known and tested Democrat atop the world’s most important economic institution.

It’s a conundrum for Biden. He can stick with Powell, a choice that would please markets — renominating someone from the opposite party as Presidents Ronald Reagan, Bill Clinton and Barack Obama did — or put his own stamp on the Fed for years as President...