Jay Powell of Federal Reserve is part of this year's Wealth Professional Canada's Hot List.
With media coverage in the US dominated by Donald Trump, the appointment of Jay Powell as Federal Reserve chair last year flew somewhat under the radar. Succeeding Janet Yellen, Powell has stressed a patient approach to raising interest rates, reflecting the headwinds that could still derail the thriving US economy.
The Fed raised rates by a quarter-point in March, and further hikes are expected later this year in response to inflation pressure. Discussing the prospect of rate hikes recently, Powell explained that there’s no reason for the central bank to change course right now, saying: “The FOMC’s patient approach has paid dividends and contributed to the strong economy we have today.”