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Jerome Powell on trusting mathematical rules for monetary policy



Jerome Powell on trusting mathematical rules for monetary policy

There are many economists and fiscal pundits who believe mathematical rules are best for driving monetary policy. Federal Reserve board member Jerome Powell is not one of those people. The former investment banker is a Republican but goes against GOP orthodoxy that calls for formulas to drive policy as a way to make things more transparent and predictable.

Powell is currently the frontrunner to be nominated as Fed chair by President Trump.

Source: WSJ

What You Need to Know About Jerome Powell’s Views – WSJ that President Donald Trump has interviewed Federal Reserve governor Jerome Powell for possible nomination as Fed chairman focuses attention on his record at the central bank. In his five years, Mr. Powell has emerged as a reliable ally of Chairwoman Janet Yellen on monetary policy, while also calling for easing some of the bank rules put in place following the financial crisis. Mr. Powell, a lawyer and former partner at the Carlyle Group, a private-equity firm, previously served as a Treasury Department official in the George H.W. Bush administration. Here is a roundup some of his policy views.