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Powell, With Year to Run at Fed, Aims to Avoid Past QE Mistake

  • Fed chair likely to signal he’s in no rush to taper bond buys
  • Fed may still ‘get run over’ by markets as economy strengthens
Jerome Powel

Jerome Powel

Photographer: Al Drago/The New York Times/Bloomberg

Federal Reserve Chair Jerome Powell heads into what could be his last year atop the central bank determined not to repeat the mistake he made when he was a neophyte monetary policy maker seven years ago.

Then a Fed governor, Powell was among those leading the charge to scale back the central bank’s quantitative-easing program -- a stance that led to the economically debilitating and market-wrenching taper tantrum of 2013.