The Powell Fed: Looking back and looking ahead

Jay Powell’s first four-year term as Federal Reserve chair was largely focused on cushioning the economy from the effects of the COVID-19 pandemic, although it also saw changes in the Fed’s monetary policy strategy. His second term begins with inflation well above the Fed’s 2% target and the labor market at or near maximum employment.

The Hutchins Center reviewed Powell’s first term with The Wall Street Journal’s Nick Timiraos, author of a new book, “Trillion Dollar Triage: How Jay Powell and the Fed Battled a President – and Prevented Economic Disaster.” Then several experts discussed the challenges Powell and his Fed colleagues face in the next four years—both on the monetary policy front and on financial regulation, climate change, and central bank digital currencies.

During the live event, the audience submitted questions at https://www.sli.do/ using the code #PowellFed or joined the conversation on Twitter using the hashtag #PowellFed.

Timiraos’ book may be ordered here: https://www.friendlycitybooks.com/fed

To read a blog summarizing panelist comments on the monetary policy challenges faced by the Powell Fed, visit this page.

To read a blog summarizing panelist comments on the challenge of climate change and the Fed, visit this page.