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Powell Takes Over at Fed With Economy Primed to Heat Up

  • Trump pick to succeed Yellen may need to speed up rate hikes
  • Unemployment and inflation are low amid frothy stock markets
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MUFG Union Bank’s Chris Rupkey discusses Janet Yellen’s tenure as Fed Chair and Jay Powell.(Source: Bloomberg)
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It’s been a long time since an incoming Federal Reserve leader had it this good.

Jerome Powell was sworn in Monday morning as the 16th chairman of the Fed, on the day after his 65th birthday. He’s inheriting a U.S. economy in its third-longest expansion on record, with unemployment and inflation near historically low levels.