Jerome Powell will become the 16the Chairman of the Federal Reserve System[1]. First, let’s take a quick look at the Fed’s recent performance, bearing in mind that the Fed’s targets are full employment, price stability and moderate bond yields. From this standpoint, the US central bank’s performance since end-2008 has been virtually perfect...
[1] Since the Federal Reserve Act of 1913. Bear in mind that the appointment of Powell will have to be passed by the Senate (which is very likely) before becoming effective in early February 2018 (1st FOMC meeting at the end of March).
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