Pinebridge's Kelly Calls Powell a Consensus Builder

The transcript discusses Jay Powell's expected role as a consensus builder at the Federal Reserve, contrasting him with previous leaders. It highlights the challenges of withdrawing crisis-based monetary policy and the importance of not surprising markets. Powell's focus on banking and unemployment, rather than strict inflation targets, is noted. The discussion also covers the broader economic goals of price stability and full employment, suggesting Powell may adopt a less traditional economic approach, considering deregulation and other issues.

What is Jay Powell expected to be seen as, according to President Dennis Lockhart?

• A revolutionary economist

• An independent thinker

• A consensus builder

• A strong leader

How does Jay Powell's background differ from previous Fed chairs?

• He is a former banker

• He is a renowned economist

• He has a PhD in economics

• He is the first non-economist

What was notably absent from Powell's comments at the Rose Garden?

• Mention of deregulation

• Talk about unemployment

• Focus on banking

• Discussion on inflation

What is the traditional focus of the Fed's Charter?

• 2% inflation as measured by the PCE index

• Price stability and full employment

• Deregulation and economic growth

• Banking sector stability

What criticism is mentioned regarding past Fed chairs?

• They were too focused on deregulation

• They ignored the bond market

• They focused too narrowly on the economy

• They were not consensus builders