
US President Donald Trump and Federal Reserve chairman Jerome Powell shown during Trump’s first term, on September 27, 2020. Photo: Asia Times files / AFP
Like the ’20s of the 21st century, the ’70s of the 20th century had an inflation problem. The problem persisted throughout the decade; indeed, it worsened. That was in significant part because early in the decade the Federal Reserve Board chair let himself be pushed around by the US president.
Today’s Fed chair is determined not to let that happen again. Avoiding it will require all the political skill and courage he can muster.
Through much of
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