Do I Win the Battle of the Day, but How Do I Really Frame This Institution?

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Powell had no interest in engaging in tough guys showdown with trump. His overriding goal was to make sure the us economic expansion did not end on his watch. Powell exploited this negative by saying, look, e preset has nons we're going to do our job. And so much of his decision making and his language really gets to that longer, bigger picture.

Nick Timiraos: Trillion Dollar Triage Nick Timiraos has been the chief economics correspondent at The Wall Street Journal since 2017, where he is responsible for covering the Federal Reserve and other major developments in U.S. economic policy. He joined the Journal in 2006 and previously covered the 2008 presidential election. He wrote about U.S. housing markets and the mortgage industry as a reporter based in New York. His coverage included the government’s response to the foreclosure crisis and the takeover of finance companies Fannie Mae and Freddie Mac. Nick is the author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic -- and Prevented Economic Disaster*. Key Points Some of Federal Reserve Chair Jerome “Jay” Powell’s core skills have helped him navigate difficult stakeholders: He’s highly regarded as a good listener with excellent emotional intelligence. He’s intentional about creating strong teams and espoused the value of teamwork regularly. He is mindful of daily events, but is always playing the long game. He speaks in plain language that makes sense to many people, regardless of their education level. Specifically, four unwritten rules of dealing with a difficult stakeholder like Donald Trump emerged in Nick’s analysis of Jay Powell’s public appearances: Don’t talk about Trump. When provoked, don’t return fire. Stick to the economy, not politics. Develop allies outside the Oval Office. Resources Mentioned Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic -- and Prevented Economic Disaster* by Nick Timiraos Nick Timiraos website Interview Notes Download my interview notes in PDF format (free membership required). Related Episodes How to Listen When Someone Is Venting, with Mark Goulston (episode 91) How to Handle a Boss Who’s a Jerk, with Tom Henschel (episode 164) The Way Out of Major Conflict, with Amanda Ripley (episode 529) Discover More Activate your free membership for full access to the entire library of interviews since 2011, searchable by topic.