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What Powell brings to Fed post: A gift for forging consensus
As a choice to lead the Federal Reserve, Jerome Powell defies any recent mold. He isn’t a trained economist. He’s produced no trail of research. He built a fortune as an investment manager. Yet by the reckoning of Fed analysts — those who know him and those who don’t — Powell is equipped to lead the world’s most influential central bank, presiding over a U.S. economy on solid ground but hardly without risks. What Powell brings to the position most of all, they say, are a formidable intelligence, an appreciation of intellectual diversity and a gift for forging agreement. And in five years on the Fed’s ... (full story)
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