A lot of academic economists are too stuck in the norms of the profession to take risks, Powell was a political operator and thus more flexible
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I think the whole economic world is just more dovish with each passing day as 1) inflation idles 2) fiscal policy is dysfunctional
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The GOP was massively opposed to QE and lower interest rates...they were against stimulus of any kind...even Trump was against it...and then when they got into power, changed their tune!
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I don't think it's about appointees. Obama made great appointments to the Fed. So did Trump. What's changed is not personnel, but how macroeconomists think about inflation.
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