Central Banks
Powell’s Narrow Path Would Avoid Routes Taken by Burns, Volcker
- The Fed chief is aiming to quash inflation without a recession
- Inflation resurgence, soaring job losses could foil strategy
Jerome Powell, via teleconference.
Photographer: Ting Shen/Bloomberg
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Federal Reserve Chair Jerome Powell is trying to avoid emulating both the derided Arthur Burns and the celebrated Paul Volcker as he confronts intense pressure to rein in inflation and sidestep a recession.