Federal Reserve Chair Jerome Powell's tenure is up in a year, so as the central bank puts together its final framework under his leadership, it's useful to consider his legacy at the helm of arguably the world's most powerful financial entity.

Federal Reserve Chair Jerome Powell reiterated the need for a wait-and-see approach during a press conference following the committee's policy announcement.

Following the last review, the Fed outlined a policy that became known as flexible average inflation targeting. The move was a stated intent to allow inflation to run slightly over the central bank's 2% target for a period of time in the interest of providing full and inclusive employment across the economy, including for race and gender.

At a news conference May 7 after the Fed held interest rates steady, Chair Jerome Powell repeatedly said officials can afford to “wait and see” how the effects of the tariffs play out and are ...

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