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Powell Debuts as Show-Me Fed Chair

Rates rise a quarter point, as expected, and Powell exhibits policy similarities to Janet Yellen—but significant differences in style.

By Craig Torres & Christopher Condon | Updated on March 22, 2018

Federal Reserve Chairman Jerome Powell showed he will be guided by the U.S. economy’s performance, rather than the theories and models his predecessors have relied on to set monetary policy for the past three decades.

Fresh from overseeing his first policy-setting meeting and its first interest rate hike of 2018, Powell signaled he won’t try to guess the limits of the labor market or the growth-boosting effects of Republican tax cuts.

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