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The Case For Overshooting

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There's a new Fed chair in town. Jerome - call him Jay - Powell is a former investment banker who has worked in both the Treasury and the Fed.

He has already indicated that when it comes to the philosophy of monetary policy, he tracks pretty closely with his predecessor, Janet Yellen.

But as Karl Smith, Director of Economic Research at the Niskanen Center, discussed with us, Powell has got an entirely different challenge ahead.

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