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    Jerome Powell will face a completely different economy in the second phase

    During his first term, Jerome Powell arguably became the most dovish chairman of the Federal Reserve in modern history, prioritizing full employment in an era when inflation seemed extinct. In his second semester, he may have to do the opposite: prioritize inflation at the risk of sacrificing work.

    Pivots can be painful for both Mr. Powell and President Biden. President Biden has partially reappointed him to his dovish record, reflecting a significant reorder of economic conditions over the past year. inflation, At 6.2%, The best in 31 years. Employment is 4.2 million below the pre-pandemic peak, Labor shortages are widespread and wage growth is accelerating. All of this threatens the Fed’s 2% inflation target.

    Jerome Powell will face a completely different economy in the second phase

    Source link Jerome Powell will face a completely different economy in the second phase

    The post Jerome Powell will face a completely different economy in the second phase appeared first on Eminetra.

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