Stephen Myron

It may be a little bit different than it was 20 years ago, right?

I think that can be helpful, but I still think it's important that it be a transition because you want to have people's loyalties undivided.

You want to have there be very clearly one chairman.

You want to have a place where there's no question about who's in charge.

Yeah.

I got to work on that.

Look, transitions are important, and I think that it is maybe helpful to have someone there to give advice.

Here's how to be an effective chairman.

Here's how to lead the committee.

Here's how the building works.

It may be a little bit different than it was 20 years ago, right?

I think that can be helpful, but I still think it's important that it be a transition because you want to have people's loyalties undivided.

You want to have there be very clearly one chairman.

You want to have a place where there's no question about who's in charge.

Yes, labels on those are not awesome.

They hurt very much on bare feet.

Chairman Powell built a lot of the institutions and processes that exist there.

When I was the incoming chairman of the Council of Economic Advisers last year, I was very grateful to the previous chairman, Jared Bernstein, for spending time with me on the phone, being very generous with his time.

Look, transitions are important.

Chairman Powell built a lot of the institutions and processes that exist there.