Faced with a pandemic that has forced Americans to stay in their homes and shut down their businesses, the Fed, under Powell’s leadership, acted swiftly to prevent a major financial catastrophe from unfolding. The central bank cut interest rates to near zero, unleashed enormous bond-buying programs, deployed new lending facilities, and went far beyond what any Fed had done in the past...
[M]onetary policy is set to remain a steadfast support for the U.S. economy, and a backstop that takes the worst-case financial-market outcomes off the table. At the center of that will be Powell, whose term runs until February 2022.
~ Barron's, "Fed Chief Steers a Steady Course in a Turbulent Time," by Nicholas Jasinski, October 31, 2020
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| "No matter what happens on Election Day, count on Fed Chariman Jerome Powell as the stabilizing force for the economy and the markets." |
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