As Jay Powell’s Federal Reserve contemplates making the first interest rate cut in more than two years, we’re taking a step back with the FT’s US financial commentator Robert Armstrong. How did Powell tame inflation without crashing the economy? And how might history judge his leadership?

Clips from Associated Press

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For further reading:

Is Jay Powell lucky or good?

Remain calm

Martin Sandbu’s column: A self-congratulatory inflation narrative at Jackson Hole

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On X, follow Robert Armstrong (@rbrtrmstrng) and Michela Tindera (@mtindera07), or follow Michela on LinkedIn for updates about the show and more.

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Read a transcript of this episode on FT.com

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Jay Powell – lucky or good?

The Story of Money