The Navigator
Judgement in the fog, money, risk and the call others cannot make.
Jerome Powell reads as The Navigator because he has steered monetary policy through some of the most turbulent conditions in modern economic history, from pandemic-era emergency intervention to the most aggressive inflation-fighting cycle in four decades.
“I'd be happy to comment on what independence on the point of central bank independence. So I think a long time ago people have learned that a central bank that's independent of political consideration does a better job getting inflation under control. And that has accepted wisdom in all advanced economies around the world.”
“So I'm giving myself perfect hindsight here. I would do what Congress did in 1933. So the original Fed didn't have an FOMC, and it really didn't function very well during the early parts of the Depression or during other.”
“We do. So it generally starts at noon or in the morning of a Tuesday, and we go all day. We generally talk about the economy, the financial stability issues, whatever special topics there may be. And at the end of the day, each person speaks on those things. And I speak at the end of that day.”
“I'm kind of proud of that actually. We do take our obligations to confidentiality very, very seriously. And because we know how consequential it would be for someone at the Fed to be leaking, our whole success depends on having the public's confidence that we're ethical and that we're working on behalf of all Americans and not on behalf o…”
The David Rubenstein Show: “Jerome Powell”
LISTEN AT THE SOURCE ↗THE RECORD IS CHECKABLE