Axios: The Powell school of leadership

The Powell school of leadership
 
Photo illustration of Jerome Powell surrounded by an image of the Fed's facade, market lines, and abstract squares. 
Jerome Powell. Photo illustration: Aïda Amer/Axios. Photo: Andrew Harnik and Al Drago/Bloomberg via Getty Images
 
Axios’ chief economic correspondent Neil Irwin, who had a front-row seat for Jerome Powell’s eight years as Federal Reserve chair, reflects on Powell’s legacy as Kevin Warsh takes over:

Powell guided the U.S. economy through extreme tumult and fought off unprecedented presidential efforts to undermine the Federal Reserve’s independence.

But it’s Powell’s approach to duty and public service that is his ultimate legacy as a leader and that will shape his place in history.

For the better part of the last decade, I’ve either watched on a screen or been physically present for pretty much everything Powell has said in public. Two sentences stick most in my memory.

😷 It was April 2020. The world was on lockdown, the unemployment rate was nearly 15%, GDP was in free fall, and the future appeared bleak.

📜 “None of us has the luxury of choosing our challenges; fate and history provide them for us,” Powell said. “Our job is to meet the tests we are presented.

The big picture: Powell’s mistakes contributed to the painful inflation of the early 2020s.

But he has led a crucial American institution for eight long years with a deep sense of public purpose.

Read Neil’s full analysis.
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About michelleclarke2015

Life event that changes all: Horse riding accident in Zimbabwe in 1993, a fractured skull et al including bipolar anxiety, chronic fatigue …. co-morbidities (Nietzche 'He who has the reason why can deal with any how' details my health history from 1993 to date). 17th 2017 August operation for breast cancer (no indications just an appointment came from BreastCheck through the Post). Trinity College Dublin Business Economics and Social Studies (but no degree) 1997-2003; UCD 1997/1998 night classes) essays, projects, writings. Trinity Horizon Programme 1997/98 (Centre for Women Studies Trinity College Dublin/St. Patrick's Foundation (Professor McKeon) EU Horizon funded: research study of 15 women (I was one of this group and it became the cornerstone of my journey to now 2017) over 9 mth period diagnosed with depression and their reintegration into society, with special emphasis on work, arts, further education; Notes from time at Trinity Horizon Project 1997/98; Articles written for Irishhealth.com 2003/2004; St Patricks Foundation monthly lecture notes for a specific period in time; Selection of Poetry including poems written by people I know; Quotations 1998-2017; other writings mainly with theme of social justice under the heading Citizen Journalism Ireland. Letters written to friends about life in Zimbabwe; Family history including Michael Comyn KC, my grandfather, my grandmother's family, the O'Donnellan ffrench Blake-Forsters; Moral wrong: An acrimonious divorce but the real injustice was the Catholic Church granting an annulment – you can read it and make your own judgment, I have mine. Topics I have written about include annual Brain Awareness week, Mashonaland Irish Associataion in Zimbabwe, Suicide (a life sentence to those left behind); Nostalgia: Tara Hill, Co. Meath.
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