globalization

Congratulations, Jerome Powell. This week you have been handed one of the toughest and most important jobs on the planet. As the new chair of the U.S. Federal Reserve, you will have to pilot the world’s most powerful central bank as it attempts to restore normalcy to a global economy still bearing scars from the financial crisis of a decade ago. To make your task even more difficult, you will take over at a time when some prominent voices are questioning fundamental tenets of central banking. The doubters are asking whether anyone really understands what causes inflation or how to control [...]