Just as Winston Churchill is primarily remembered for facing down the Nazi onslaught in World War II, outgoing US Federal Reserve Jerome Powell is likely to be remembered for his courageous defense of the Fed’s independence against President Donald Trump’s attacks. Like Churchill, he will be forgiven his major policy errors.
WASHINGTON, DC—History is likely to be as kind to Jerome Powell, the outgoing chair of the US Federal Reserve Board, as it has been to Winston Churchill. Today, Churchill is mainly remembered for his courageous leadership during World War II, when he mobilized Britons to fend off the Nazi onslaught.