Powell taking over as Fed chairman at time of economic calm
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January 25, 2018
WASHINGTON (AP) — It would seem like a pretty good time to take over as chairman of the Federal Reserve.
Jerome Powell has won Senate confirmation to head the U.S. central bank, inheriting an economy on a roll, a booming stock market and unemployment at a 17-year low.
He will succeed Janet Yellen, the first woman to serve as Fed chairman, when her term ends on Feb. 3. The position is considered the government's most power economic job.
But while the immediate horizon appears clear, Powell faces the risk that today's sturdy economy, low inflation and rising stock market could reverse course in...
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