Quiz: Who said it? Powell versus Yellen
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Newly minted Federal Reserve Chairman Jerome Powell testified before Congress for the first time today. He told members of Congress that he plans to continue the Fed’s “further gradual increases” of interest rates — not an entirely surprising move given the economy he is inheriting.
Powell’s emphasis on staying the course also reflects his time as a governor of the central bank — Powell rarely disagreed with predecessor Janet Yellen’s direction. In fact, Powell’s speech today included many ideas — and even exact phrases — that Yellen has put forward before. So is it more of the same ol’ same ol’? To see just how similarly the two Fed chairs’ think, we pulled a few of their statements for comparison.
Photo Credits: Alex Wong and Zach Gibson/Getty Images