It will be Powells Fed.
Assuming hes confirmed by the Senate, Jerome (Jay) Powell will become the 16th chairman of the Federal Reserve Board early next year. Almost by definition, he instantly becomes the most important economic policymaker in the world. But who is he? Outside economic circles, hardly anyone knows.
So lets catch up.
Powell would be the first non-economist to head the Fed since the disastrous appointment of G. William Miller by President Jimmy Carter in 1978. But parallels are strained. Even many economists dont believe academic credentials are…

More…

Comments are closed.