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Claudia Sahm highlights the impact of Jay Powell's leadership as Fed Chair, emphasizing how his words played a crucial role in guiding the country through the pandemic, explaining the costs of combating inflation, and calling attention to threats against the independence of the Federal Reserve.
Sahm marks Powell’s final day as Fed Chair by noting the significance of his communication during critical moments for the U.S. economy.
Earlier, Claudia Sahm described the current Fed chair selection as highly unusual, with Kevin Warsh preparing for his confirmation hearing in an ongoing process reported here. She previously noted Warsh’s praise for trimmed means and his connections to Team Transitory in 2021 in 2021 discussions among Fed officials. These observations add context to her recent focus on Fed leadership and communication.