The long and twisting story of how Jay Powell became our next Federal Reserve chair
Share Now on:
Saturday will mark Janet Yellen’s last day at the Federal Reserve. Jerome Powell, who often goes by the name Jay, will be sworn in as the new Federal Reserve chair on Monday.
But how did Powell come to be nominated by President Donald Trump in the first place? According to Josh Zumbrun, national economics correspondent for the Wall Street Journal, that story spans multiple presidencies and involves feuding congressmen, a formula to set monetary policy and the Swedes. He launched a Twitter thread about it … and then we set it to music.
Scroll through for the whole story:
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.