Sumary of Jerome Powell’s Fed Has Much To Learn From Korea:
- Bank of Korea Governor Lee Ju-Yeol speaks during a news briefing on its key interest rate at the .
- JUNG YEON-JE/AFP via Getty Images Federal Reserve officials are generally good about learning from their past successes and failures.
- Such may be the case with the Bank of Korea in Seoul, which just raised interest rates for the second time since August.
- As Powell’s team debates whether the inflation rising around them is real, Governor Lee Ju-yeol’s staff is taking no chances.
- Lee is hardly about to drive Korea into recession the way Chairman Volcker did in the late 1970s and early 1980s.
- If you think this is hyperbole, Google your way back to the late 90s when Greenspan was being featured in People magazine alongside Leonardo DiCaprio and the Spice Girls.
- U.S. President Donald Trump (R) introduces his nominee for the chairman of the Federal Reserve .
- Drew Angerer/Getty Images After some mean tweets and Donald Trump’s threats to fire Powell, the Fed started cutting rates.