The Federal Reserve’s independence is hanging by a thread in the age of Trump
The Guardian World ·
Jerome Powell, who stepped down this week as chair of the Federal Reserve , had his hits and misses. The Fed was late to react as prices started rising when the Covid pandemic abated, but they …
Jerome Powell, who stepped down this week as chair of the Federal Reserve , had his hits and misses. The Fed was late to react as prices started rising when the Covid pandemic abated, but they eventually acted forcefully and achieved the most rare of feats: a “soft landing”, curbing inflation without sparking a recession or damaging employment. Strangely, given the chaotic era of pandemic and tariffs that coincided with Powell’s time as chair, monetary policy may not define his legacy. …
Original source: The Guardian World