FIRST AIRED: March 19, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

We've got more news

Get our editor’s daily email summary of what’s going on in the world.

US Edition
Intl. Edition
Replay Program
0:00
0:00
More Info

COMING UP:Share Opener Variant 2

×

Transcript

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.