President Donald Trump nominated Federal Reserve board member Jerome Powell as the panel’s next chairman Nov. 2.
Tim Duy, a UO professor of economics and expert in Fed policy, was mentioned in a USA Today article on the subject. The piece was picked up by dozens of outlets.
According to Duy, interest rates might rise slightly faster under Powell than they did under current Democratic Federal Reserve Board Chair Janet Yellen, though the two share similar views. The gradual lifting of interest rates is intended to head off inflation without disrupting economic recovery.
Powell, a Republican centrist, will be the first Fed chairman without a doctorate in economics in nearly 30 years. If confirmed by the Senate, he will talk the helm from Yellen in February.
For more, see “Trump nominates Jerome Powell as next Federal Reserve chairman” in USA Today.
Tim Duy is UO co-director of undergraduate studies and director of Oregon Economic Forum. He is an expert in the U.S. macroeconomy in topics such as unemployment, inflation and gross domestic product. He is the author of the blog “Tim Duy’s Fed Watch.”