Money

A boring choice for Fed chair, even though these are very interesting times

Jerome Powell’s main qualification for leading the world’s most powerful central bank seems to be his lack of strong views

Jerome Powell was Wall Street’s choice to run the Federal Reserve. Given Donald Trump’s record on doing the unexpected, there was always the chance the president would pick another candidate, but for once he did not make waves.

Powell was the business-as-usual candidate. Nothing he has said or done since he first joined the Fed’s board five years ago suggests he intends to make life difficult for Trump or rattle the financial markets. Well, not deliberately at least, for while Powell is the boring choice, he may not necessarily prove to be the safe choice.

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