What Powell brings to Fed post: A gift for forging consensus
WASHINGTON — As a choice to lead the Federal Reserve, Jerome Powell defies any recent mould.
He isn’t a trained economist. He’s produced no trail of research. He built a fortune as an investment manager.
Yet by the reckoning of Fed analysts — those who know him and those who don’t — Powell is equipped to lead the world’s most influential central bank, presiding over a U.S. economy on solid ground but hardly without risks.
What Powell brings to the position most of all, they say, are a formidable intelligence, an appreciation of intellectual diversity and a gift for forging agreement. And in five years on the Fed’s board of governors, he has schooled himself in monetary policy while becoming a specialist in areas from banking regulation to the U.S. payments system.