Money matters...
Presidents usually get the credit, or the blame, for the U.S. economy, vicenews.com reports.
But since the Great Recession ended in 2009, the single most influential economic policymaker in Washington hasn’t been the president, or even a politician. It’s been two mild-mannered economists who’ve led the U.S. central bank, the Federal Reserve, in the past eight years, the news service wrote.
The first was academic economist Ben Bernanke, who took over as Fed chair in 2006 and served until 2014, succeeded by economist Janet Yellen. With Yellen’s term ending soon, President Donald Trump is set to name a new person to lead the central bank Thursday, with widespread speculation centering on Jerome Powell, a lawyer, investment banker, and private equity executive who has served as one of the Fed’s governors since 2012. Powell is seen as a safe choice to follow Yellen, who was nominated by then-President Barack Obama in October 2013 and whose term runs out in February.
For an excellent report on Powell and how the Fed works on the economy: https://news.vice.com/story/trump-is-about-to-name-the-most-important-person-in-the-u-s-economy?utm_source=vicenewsfb
Photo: Google.
Jerome Powell: About to become Federal Reserve Chairman?
But since the Great Recession ended in 2009, the single most influential economic policymaker in Washington hasn’t been the president, or even a politician. It’s been two mild-mannered economists who’ve led the U.S. central bank, the Federal Reserve, in the past eight years, the news service wrote.
The first was academic economist Ben Bernanke, who took over as Fed chair in 2006 and served until 2014, succeeded by economist Janet Yellen. With Yellen’s term ending soon, President Donald Trump is set to name a new person to lead the central bank Thursday, with widespread speculation centering on Jerome Powell, a lawyer, investment banker, and private equity executive who has served as one of the Fed’s governors since 2012. Powell is seen as a safe choice to follow Yellen, who was nominated by then-President Barack Obama in October 2013 and whose term runs out in February.
For an excellent report on Powell and how the Fed works on the economy: https://news.vice.com/story/trump-is-about-to-name-the-most-important-person-in-the-u-s-economy?utm_source=vicenewsfb
Photo: Google.
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