Economics
Fed Chair Nominee Powell Is No Ph.D., But No Pushover Either
- Staff has history of keeping debate behind closed doors
- Insiders say Powell has shown he’ll challenge Fed economists
How Trump Wound Up Picking Jay Powell
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Years before he was tapped to lead the Federal Reserve, Jerome Powell brought to the world’s most powerful central bank a lesson he learned in the business world: manage or be managed.
On everything from the payments system to monetary policy, he noticed the Fed’s brainy staff of economists would hash out their differences among themselves and then present governors with a unified policy recommendation, expecting them mostly to follow their advice.