The Federal Reserve

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Powell’s tenure as Fed chair marked by fight for independence while trying to tame inflation

The U.S. economy is very different from when Jerome Powell was sworn in eight years ago: Inflation soared after the pandemic and has remained above the Fed’s 2% target for more than five years, angering voters and making rents, cars and groceries harder to afford. Along the way, Powell pushed back against an unprecedented legal investigation by the Justice Department, becoming one of the few top officials in Washington to stand up to the Trump White House. Read more.