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  • So, Donald Trump has ended weeks of speculation

  • by appointing Jay Powell to be the next chair of the Federal Reserve,

  • replacing Janet Yellen early next year.

  • Jay Powell has been a governor in the Fed since 2012.

  • Before that, he worked under George Herbert Walker Bush in the Treasury,

  • has also been a private equity partner, a lawyer, and has worked at the Bipartisan Policy Centre,

  • which is a think-tank here in Washington, DC.

  • In terms of his approach to monetary policy and regulation,

  • Jay Powell is a centrist on monetary policy.

  • He has not dissented from the very gradual approach to rate rises that Janet Yellen has pushed,

  • or indeed, to the very transparent and gradual approach they're taking at the Fed

  • to reducing the Fed's $4.5 trillion balance sheet.

  • On regulation, it remains to be seen whether he changes the tone a little bit.

  • But he may be more open to easing the burden of regulation than Janet Yellen has been.

  • But that really remains to be seen.

  • He certainly doesn't seem to be a person

  • who wants to tear up the post-crisis regulatory system in a drastic way.

  • A pragmatist, a centrist, Jay Powell will take over at the Federal Reserve early next year.

So, Donald Trump has ended weeks of speculation

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New Fed chair: who is Jay Powell

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    林恩立 posted on 2017/11/06
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