Jerome Powell´s inheritance

First let´s look at Yellen´s tenure. This was the first time since 1951 that a Fed Chairperson that completed his first term was not appointed for a second stint. It was also the first time during the same period that a Fed Chair did not preside over a recession in his first term. For the first time, also, unemployment only decreased. Inflation remained low as it had for the past 25 years. One could conclude that Janet Yellen had the most successful first term as Fed Chair in the post war period…but didn´t get reappointed! Note, however, that Yellen´s tenure…

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