Jerome Powell’s straight talk stands out in Washington


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Good morning. Fed chairs don’t frequently appear on television. Paul Volcker almost never did. Alan Greenspan did it once—Oct. 4, 1987—and was asked if he was enjoying his new job. His answer: “So far.” Two weeks later, the market dropped 22%, and he never went on TV again. Subsequent chairs, in an effort to be transparent, have done it more frequently, but still rarely. So when the Fed chair speaks, it’s worth listening. With that in mind, here are excerpts from Scott Pelley’s interview with Jay Powell, which aired on 60 Minutes Sunday. I have edited the questions and excerpted...