Jerome Powell is stepping down as Chair of the Federal Reserve. Here is a look at his impact while holding his position:

-Guided the U.S. economy through the COVID 19 crisis by cutting interest rates to near zero and launching massive emergency lending programs to stabilize financial markets and avoid a deeper collapse

-Oversaw unprecedented monetary stimulus, expanding the Fed’s balance sheet through quantitative easing to support jobs and economic recovery

-Shifted to a more flexible inflation framework in 2020, introducing “average inflation targeting” to allow inflation to run moderately above 2 percent in support of stronger labor markets

-Managed the transition from low inflation to high inflation, later raising interest rates at the fastest pace in decades to bring rising prices under control

-Maintained a relatively strong labor market even during aggressive rate hikes, with unemployment staying low despite tighter policy

-Strengthened financial system resilience by continuing post 2008 reforms…