Powell’s legacy tested by inflation, bank crisis, new Fed dynamics

NASDAQ-Reuters/Howard Schneider/5-16-2023

“Federal Reserve Chair Jerome Powell, who navigated a combative White House and a pandemic in his first years as head of the U.S. central bank, is facing a critical chapter in his leadership with a battle against inflation still unresolved, worries about recession widespread, and developing criticism of the Fed’s oversight of the financial industry.”

USAGOLD note: The Fed has only itself to blame, though Powell inherited much of the problem from Bernanke and Yellen.