Jerome Powell and the Future of Fed Independence
Summary
Planet Money examines Jerome Powell’s tenure as Fed Chair, focusing on his resistance to political pressure from President Trump. The episode compares Powell to historical figures like McChesney Martin and Arthur Burns, featuring insights from economist Burton Abrams and former Fed Governor Lael Brainard. It analyzes the unprecedented criminal investigation against Powell and discusses signs that Fed independence remains resilient despite recent political tensions.
Topics discussed
Jerome Powell's final day and the history of Fed independence
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Historical case study: LBJ pressures McChesney Martin
Historical case study: Nixon pressures Arthur Burns
Expert analysis: Powell compared to Martin and Burns
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Inside the Fed: Lael Brainard on Trump's pressure tactics
The DOJ investigation into Jerome Powell
Signs of hope: Congress and the Supreme Court protect the Fed
Rising dissent on the Fed board and future outlook
Credits and closing ads
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