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One-Third of Investors Approve of Powell for Fed Chair

This week’s Sentiment Survey special question asked AAII members what they thought about Jerome Powell being nominated to serve as the next Federal Reserve Chair. Responses were mixed. More than a third of all respondents (37%) approve of the nomination. They like Powell’s background and/or think he’ll maintain stability in monetary policy. Slightly more than 15% described the selection as being “more of the same.” Nearly 8% have a neutral opinion, 6% oppose Powell’s nomination and 19% say they have yet to form an opinion. Five respondents simply said they wanted current chair Janet Yellen to keep her post, while two others said they wanted John Taylor to be nominated instead.

Here is a sampling of the responses:

  • “Great choice. Smart. Should continue a disciplined agenda and not rock the boat too hard.”
  • “I would have preferred Janet Yellen stay in the job. However, Powell should be better than some of the other supposed candidates.”
  • “From my news accounts, he is qualified and we will expect little change in policies.”
  • “I don’t know his record well enough to have an opinion.”
  • “No impact. More of the same.”

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