{"id":45,"date":"2025-10-02T12:19:22","date_gmt":"2025-10-02T12:19:22","guid":{"rendered":"https:\/\/jon-hilsenrath.ledewire.com\/?p=45"},"modified":"2025-12-02T12:22:54","modified_gmt":"2025-12-02T12:22:54","slug":"the-inflation-record","status":"publish","type":"post","link":"https:\/\/jon-hilsenrath.ledewire.com\/?p=45","title":{"rendered":"THE INFLATION RECORD:"},"content":{"rendered":"\n<p>Powell will go out having presided over the highest inflation rate among Fed leaders since the 1980s<br><br>Fed Chairman Jerome Powell has four meetings left as chairman of the U.S. central bank. Inflation so far has averaged 3.1% on his watch, higher than his three most recent predecessors &#8211; Alan Greenspan, Ben Bernanke and Janet Yellen. There&#8217;s a reasonable chance that Powell will thus exit the stage next year with a 3-handle on his permanent record.<br><\/p>\n\n\n\n<p><br>In fairness, Powell had to navigate the Covid shock. The median inflation rate during his eight years at the Fed, at 2.5%, is better than the average, meaning outside of the shock he didn&#8217;t overshoot quite as much and his record looks more like Greenspan&#8217;s.<br><br>Yet every Fed leader has to navigate shocks. It&#8217;s part of the job definition. Ben Bernanke had the financial crisis of 2007 to 2009. Inflation averaged 1.9% on Bernanke&#8217;s watch, the closest to the Fed&#8217;s 2% target that any Fed official has achieved in modern times. Bernanke&#8217;s median was exactly 2%.<br><br>Questions for the group: Does Bernanke deserve credit for meeting the mark? How do you rate Powell?<br><br>The Powell legacy stories will be coming in the months ahead. His legacy is complex, mixed at best.Activate to view larger image,<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/media.licdn.com\/dms\/image\/v2\/D4E22AQEFN8PePwpCNQ\/feedshare-shrink_800\/B4EZq77jQIGYAg-\/0\/1764089542056?e=1766016000&amp;v=beta&amp;t=YSVHWDmPSKghSmvfFGzYezqGxLSKLAPUpX4pmT2vTc8\" alt=\"chart, bar chart\"\/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Powell will go out having presided over the highest inflation rate among Fed leaders since the 1980s Fed Chairman Jerome Powell has four meetings left as chairman of the U.S. central bank. Inflation so far has averaged 3.1% on his watch, higher than his three most recent predecessors &#8211; Alan Greenspan, Ben Bernanke and Janet&#8230;<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ledewire_sync_enabled":true,"_ledewire_price_cents":98,"_ledewire_teaser":"","_ledewire_use_excerpt":true,"_ledewire_paywall_enabled":true,"_ledewire_content_id":"a47b1423-4382-4bed-8ba2-2cf1f5d2d5d0","_ledewire_sync_status":"synced","_ledewire_last_sync":"2025-12-02 12:22:55","_ledewire_error_message":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-45","post","type-post","status-publish","format-standard","hentry","category-inflation-trends"],"ledewire_meta":{"sync_enabled":"1","price_cents":"98","teaser":"","use_excerpt":"1","paywall_enabled":"1","content_id":"a47b1423-4382-4bed-8ba2-2cf1f5d2d5d0","sync_status":"synced","last_sync":"2025-12-02 12:22:55","error_message":""},"_links":{"self":[{"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/posts\/45","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45"}],"version-history":[{"count":2,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/posts\/45\/revisions"}],"predecessor-version":[{"id":47,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=\/wp\/v2\/posts\/45\/revisions\/47"}],"wp:attachment":[{"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jon-hilsenrath.ledewire.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}