Behind the Money

Jay Powell – lucky or good?

Sep 11, 2024

Jay Powell, the Chair of the Federal Reserve, discusses his efforts to manage inflation without derailing the economy, joined by Robert Armstrong, a US financial commentator from the Financial Times. They delve into whether Powell's strategies are the result of skill or serendipity. The conversation also touches on comparisons with past central banking legends like Paul Volcker, and the challenges of navigating today's economic uncertainty while balancing inflation and employment. Ultimately, they ponder how history will evaluate Powell's leadership.

19:08

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Episode guests

Robert Armstrong

Jay Powell

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Episode notes

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Quick takeaways

Jay Powell's leadership during inflationary pressures reflects his resilience and ability to adapt to significant economic challenges post-pandemic.

The ongoing debate surrounding Powell's success raises questions about whether it stems from strategic decision-making or external economic factors influencing a soft landing.

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Intro

2min

Navigating Inflation: The Fed's Balancing Act

11min

Evaluating Legacy and Performance of Central Banking

2min

Evaluating Central Banking Legacy: From Volcker to the Present

2min

Navigating Economic Uncertainty: Inflation and Employment Insights

3min

As Jay Powell’s Federal Reserve contemplates making the first interest rate cut in more than two years, we’re taking a step back with the FT’s US financial commentator Robert Armstrong. How did Powell tame inflation without crashing the economy? And how might history judge his leadership?