2020 Fed Transcripts Show How Powell Sold Fateful Rate Guidance

 

Transcripts of the Federal Reserve’s 2020 policy meetings, made public Friday, revealed new details about how Chair Jerome Powell pushed for a change he would later regret.

The record of the Fed’s September 2020 gathering — during the depth of the Covid-19 pandemic — shows Powell made a forceful case for strong and specific guidance on the conditions required before the Fed would lift interest rates away from zero, where they had landed in March of that year. And he won the debate despite pushback from several of his colleagues.

https://www.bloomberg.com/news/articles/2026-01-17/2020-fed-transcripts-show-how-powell-sold-fateful-rate-guidance