Group 1 - The article discusses the complex tenure of Federal Reserve Chairman Jerome Powell, highlighting his balancing act between traditional monetary policy and innovative approaches during unprecedented economic challenges [1][3][4] - Powell's leadership is characterized by significant policy shifts, including the introduction of unlimited quantitative easing and emergency interest rate cuts in response to the COVID-19 pandemic, which helped restore market confidence [4][5] - The restructuring of the monetary policy framework under Powell's leadership emphasizes inclusive employment and an average inflation target, marking a departure from previous static inflation goals [5][6] Group 2 - The article notes that Powell faced intense political pressure, particularly from former President Trump, which tested the independence of the Federal Reserve [13][14] - Powell's decisions during the pandemic, while initially effective, led to significant misjudgments regarding inflation, resulting in a rapid increase in interest rates that had widespread economic repercussions [9][10] - The article highlights the structural issues exacerbated by Powell's policies, including wealth inequality and the disproportionate impact of inflation on lower-income groups [10][11] Group 3 - The article concludes with a reflection on Powell's legacy, suggesting that his tenure will be remembered for both its bold innovations and the costly errors made in responding to inflationary pressures [8][12][18] - The potential for a new Federal Reserve chair to be appointed before Powell's term ends indicates a shift in leadership dynamics that could influence future monetary policy [18]

鲍威尔继任者也许能从前任那里获得不少经验教训，最为重要的是，能否将美联储的货币政策独立性原 则贯彻下去。 美国总统特朗普与美联储主席鲍威尔的关系再度恶化。特朗普借美联储翻修总部大楼的支出超出预算之 名，发出了解雇鲍威尔的声音，鲍威尔甚至因此遭遇刑事指控风险，明年5月能否顺利如期退休也充满 悬念。 鲍威尔已经任职美联储主席八年之久，既为货币政策框架的重大创新立下了不俗之功，也为坚守中央银 行政治中立性奉献了艰苦之劳；同时也留下了误判通胀的遗憾，以及对科技金融创新缺乏敏感性与前瞻 性预见的短板。鲍威尔继任者也许能从前任那里获得不少经验教训，最为重要的是，能否将美联储的货 币政策独立性原则贯彻下去。 鲍威尔的功与过 作为美联储历史上唯一一个非经济学出身的技术型掌门人，鲍威尔能够进入美联储出任委员要职，得益 于美国前总统奥巴马的提名，后来又获得了特朗普与拜登两位总统的钦点，得以连任美联储主席。作为 共和党成员，在政治极化愈演愈烈的美国党派体系中，鲍威尔如同走钢丝般周旋其间，既说明了他超乎 寻常的平衡艺术与生存能力，也意味着这位满头银发的掌舵人，注定要在复杂政治与经济环境中留下特 定的职业生涯记号。 鲍威尔首任之初，奋 ...