Jerome Powell ditches forward guidance
In his first press conference, Jerome Powell baffled both the experts and the markets. After reading the hawkish introductory statement, he defused all fears for a harsh and swift monetary tightening.
Jerome Powell
Be careful with the Taylor Law
We need to be aware of the existence of regulations over and above the well-known Taylor Law, starting with this regulation adjusted to establishing a downward limit on rates of 0%, which is very important in the US Fed’s case.
Bullish Powell Fuels Higher Rates
In his first congressional testimony, Jerome Powell delivered an upbeat appraisal of the US economy. In his own words, headwinds have turned into tailwinds. While avoiding any commitment on the plausible monetary stance, markets have discounted a faster pace in rate hikes, pushing bond yields to fresh highs.
Welcome Mr Powell: Monetary Normalisation Is Not Going To Be A Bed Of Roses
The welcome the financial markets have given the new Fed chairman (Jerome Powell) shows that the end of the monetary normalisation process in the US is not going to be a bed of roses, despite the fact his predecessor (Yellen) left with a good part of the dirty work already well underway.
Federal Reserve’s Next Move: The Times Are A’ Changing
Jerome Powell is bound to have a crash landing in the Federal Reserve. From the very beginning of his mandate, pressure is mounting on him to raise rates. An unpalatable choice for someone who hoped to follow Janet Yellen’s wait-and-see stance for as long as he could.
The Lawyer Is A Better Fed Chief? Or Fed Plots A Higher Unemployment Rate
Benjamin Cole | The US Senate Banking Committee Jan. 17 voted thumb’s up on Jerome Powell, President Trump’s appointment to the Chair of the Federal Reserve. Barring calamity, Powell should take over in February.
Anticipating Disaster: Jerome Powell In A Tricky Position
If Jerome Powell is “sold” on the idea that he has to restrain an economy that is “too vibrant”, the outcome will be “disaster”.
Jerome Powell, A “Low-Interest-Rate Guy”
US President Donald Trump eventually nominated Federal Reserve Governor Jerome Powell as next chairman of the Federal Reserve. Governor Powell has never dissented from the policy actions of the FOMC during his five years as a voting member. However, it remains to be seen how he will make his own mark on the US central bank.
The Next Federal Reserve Chair: You Are Hired !!!
BBVA Research (Boyd Nash-Stacey/Nathaniel Karp) | The FOMC is poised to undergo a nontrivial change in leadership and composition with four new regional Fed members rotating into voting roles and with a potential change in leadership.