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Fed's Powell Faces Challenges Under Biden or Trump Presidency
Bloomberg: There’s a lot at stake for the Federal Reserve in Tuesday’s election even with monetary policy set to remain ultra-loose for years to come.
With the economy struggling to regain its pre-pandemic strength, Fed officials expect interest rates will stay near zero for at least three more years. Moreover, behind Chair Jerome Powell the Fed’s rate-setting panel has just unanimously endorsed a new long-run strategy that promises to keep rates lower coming out of this recession than officials had dared during previous recoveries.
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