Janet Yellen Exits on a High Note
Robert Spendlove and Joseph Mayans discuss the current economic conditions.
The last couple of months have been busy: hurricanes, wildfires, Fed policy normalization, and talks of tax reform. However, beneath the headlines, there appears to be a firming of the fundamental “hard” economic data. The U.S. labor market has posted 85 consecutive months of job gains, the unemployment rate is at 4.1 percent, and economic growth has reached 3 percent in the last two quarters. After nearly a year of asking when the “hard” economic data would catch up to the “soft” data, it may finally be happening.
Despite an improvement in economic fundamentals, President Trump has decided to not re-nominate Janet Yellen as Chairman of the Federal Reserve. Instead, the President has chosen current Fed Governor Jerome Powell to take the helm starting next year.
Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, to get his insight into these trends and how he sees the Federal Reserve going forward with Jerome Powell as Chairman.
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