Janet Yellen has outlined three lessons from Jerome Powell’s tenure as chair of the US Federal Reserve.
In a speech on June 2 at an event in Washington looking back on Powell’s time as head of the US central bank, Yellen – a former Fed chair and US Treasury secretary – said he had “served the American people with distinction under circumstances none of us fully anticipated”.
Yellen said the first lesson to be drawn from his chairmanship was that monetary policy cannot tame supply-driven inflation
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