Who Is Jerome Powell: Trumps Pick for Fed Chairman
Source: New York Times
A Centrist, Behind-the-Scenes Voice at the Fed
Mr. Powell, a Republican, is a centrist voice in the Fed’s internal debates, often raising his concerns in private conversation rather than in public speeches. He has voted for every policy decision since joining the Fed, including four interest rate increases, and supported the Fed’s decision to unwind the bond-buying program put in place during and after the 2008 financial crisis.
In September 2012, when Ben S. Bernanke, the Fed chairman at the time, announced a third round of bond buying as part of that program, Mr. Powell pressed for a clarification of the Fed’s goals, establishing what Mr. Powell called an “offramp” for the program.
Mr. Powell’s recent comments on monetary policy are basically interchangeable with recent comments by Janet L. Yellen, the current Fed chairwoman. In a June speech, he said strong job growth weighed in favor of raising interest rates while weak inflation suggested the need for caution.
Read more: https://www.nytimes.com/2017/11/02/business/economy/jerome-powell-fed-chairman.html
Pence and those behind him reportedly wanted the OTHER guy.
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