FIRST AIRED: March 19, 2018

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00:00:01
>> The new Federal Reserve Chair, starting to sketch out the post-Yellen era. I'm Jonathan Spicer, Reuters Fed correspondent. J Powell, Trump's pick to lead the US Central Bank, is starting right away with the gradual rate hikes as he chairs his first meeting. Investors around the world still have a few lingering questions as to what he will mean for the Central Bank as evidenced by the quick market sell-off in his very first comments to Congress late last month.
00:00:32
>> The will continue to strike a balance between avoiding an overheated economy and bringing price inflation to 2% on a sustained basis.>> And some of his colleagues have spoke to Reuters, and this allows us to see some areas where he might set his own path for the Fed.
00:00:47
One area is potentially warming the Fed's sometimes frosty relationship with Congress. Yellen, in particular, talked quite a bit about inequality and the problems there, and that irked some of the Republican members of Congress. Powell, a former banker and former official to Treasury on the other hand, he enjoys his private meeting with law makers of both parties.
00:01:08
And in his first testimony to Congress was very careful to stay in his lane.>> What kind of economic impact would ending DACA and making 700,000 dreamers deportable have on our economy?>> These are difficult and important issues and we of course don't do immigration policy at the Fed.
00:01:27
>> Well Powell will probably stick to a, if it ain't broke don't fix it, mantra. He may also be a bit more open minded that the Fed has a little bit more room to run in this gradual rate hike cycle. This is because of $1.8 trillion in tax cuts and government spending that really was unexpected back when Trump picked him.
00:01:50
And it could push the economy in ways that we've rarely seen before. All this sets the stage for a potentially feisty debate at Powell's first policy meeting which begins on Tuesday and the press conference that he will hold on Wednesday.