Steady Under Pressure: Powell Steers the Fed Through Pandemic, Inflation and Politics

Jerome Powell’s eight-year tenure as Fed chair is portrayed as a duty-driven ride through the pandemic, the surge in inflation, and growing political pressure, starting with unprecedented easing and a rapid balance-sheet expansion, then a slow pivot to tighten policy once inflation proved persistent, culminating in aggressive rate hikes that cooled prices while aiming to protect independence and avoid a recession.