Will the New Fed Boss be the same as the Old Fed Boss?

Week ending Friday November 3rd 2017 Jerome Powell gets a promotion As expected, President Trump named Jerome Powell as his nominee to replace Janet Yellen in February of next year. This is one of the better outcomes that was on the table, and although we would have preferred one of the academic economists who talks about nominal income level targeting, none of them were politically positioned for the job. Powell has tended to be on the right side of issues since he joined the Fed in 2012, and should breeze through Senate confirmation. The best thing about Powell is not…

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