He Was Good at Steering the Fed, but He Was a Genius at Ignoring Trump’s Threats

A decade and a half later, Mr. Powell’s tenure as Fed chair is coming to an end. In normal times, this would be the moment to look back at his policies and performance. We’d be noting that under his leadership, the Fed succeeded in keeping the pandemic from turning into a financial crisis but failed to avoid 7 percent inflation. But these are not normal times, and Mr. Powell’s policy successes and failures are not what he’ll be remembered for.