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Marketplace Morning Report

Toy tariff story

Nov 20, 2019

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The Federal Reserve

The long and twisting story of how Jay Powell became our next Federal Reserve chair

Bridget Bodnar Feb 5, 2018
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Jerome Powell will be sworn in as chair of the Federal Reserve on Monday.
Drew Angerer/Getty Images

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:

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