Chair Jerome H. Powell delivered opening remarks at the George P. Shultz Memorial Lecture Series at the Hoover Institution, Stanford University, on December 1, 2025. Powell praised Shultz’s broad economic accomplishments and his commitment to integrity, trust, and market principles. He recalled meeting Shultz after joining the Fed in 2012 and highlighted Shultz’s work as Secretary of Labor and in later policy areas such as health care reform, climate change, and nuclear disarmament. Powell noted Shultz’s focus on reducing racial discrimination in the workplace and his skill in bringing diverse parties to agreement. The speech emphasized Shultz’s legacy without addressing current economic conditions or monetary policy.
https://www.federalreserve.gov/newsevents/speech/powell20251201a.htm
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