Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters
Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

The Federal Reserve’s worrying slide from villain to pushover

  • Nicholas Spiro says the rise of populism and protectionism has made central banks’ jobs a lot harder. US Federal Reserve chairman Jerome Powell has just signalled a dovish tilt, and is being accused of caving in to financial markets

Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters
Federal Reserve chairman Jerome Powell holds a press conference in Washington on January 30, following a two-day policy meeting. Photo: Reuters
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.