Making the Case for Jay Powell as Next Fed Chair

The transcript discusses the implications of selecting a new Fed chair, focusing on the limited impact on monetary policy due to existing paths and the importance of regulatory roles. It highlights the uncertainty in FOMC composition and potential shifts in policy direction. Economic forecasts suggest stronger wage gains and a cautious approach to rate hikes, with Bloomberg Intelligence predicting a shallower path than projected.

What is the significance of the Powell choice in relation to the Federal Reserve's policy?

How does the text describe the relationship between bank regulation and the Federal Reserve's leadership?

How might the composition of the FOMC change next year, and what implications could this have for monetary policy?

Discuss the potential impact of wage gains on inflation and monetary policy as mentioned in the text.

What are the expectations for rate hikes in the upcoming year according to the discussion?