## 🇺🇸 Powell Honors George Shultz: A Legacy of Integrity & Market Wisdom
Fed Chair Jerome Powell delivered a moving tribute to the late statesman **George P. Shultz**, highlighting his enduring principles and impact on economic policy. While avoiding current Fed policy discussion, Powell spotlighted Shultz's remarkable career and philosophy.
### 🔑 Shultz's Core Principles
Shultz, who held four different cabinet positions, was a master policymaker known for:
* **Market Belief:** A deep conviction in the **wisdom of markets** and a preference for minimal government interference.
* **Pragmatism:** Combining academic rigor with a **practical, problem-solving approach** to address real-world issues and market failures.
* **Trust & Integrity:** His guiding philosophy: **"Trust is the coin of the realm."** He built consensus by ensuring parties "owned" the final agreement.
### ✊ Advocate for Equality
Less known, but highly impactful, was Shultz's commitment to social justice:
* He was **deeply concerned about racial discrimination** in the workplace and consistently used his authority to **increase opportunities for minorities**, citing both a **moral and economic basis**.
### 💡 The Takeaway for Leaders
Powell emphasized that Shultz served as a role model, successfully combining strong principles with respect for those with whom he disagreed.
> **"All of those who aspire to serve the public can learn from his example."**
This reflection on leadership, integrity, and the fundamental role of trust comes at a key time for global markets and policymakers. 🌐