With Jerome Powell stepping down, an unforgettable eight year era for the macro markets comes to a close. Looking back at his tenure, two specific things stand out to me.
First was the absolute decisiveness of the 2020 response. He injected historic liquidity into the system and single handedly stopped the global financial system from a total collapse.Second was his plain spoken communication style. He completely removed the confusing central bank terminology and chose to speak directly to us and the markets in plain English, keeping everyone aligned during the toughest macro environments. I liked his communication style throughout. An incredible chapter in market history. Best wishes to Kevin Warsh, definitely not an easy job and a mountain to climb but I think he will do a great job.The copyright of this article belongs to the original author/organization.
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