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.

How does the speaker describe the current economic period?

What are the implications of having a non-economist as the Fed chair?

In what ways might a consensus builder approach differ from a traditional economist's approach?

What is the significance of the PCE deflator being below 2% for 80% of the last 20 years?

What broader issues does the speaker believe the new Fed chair should consider?