- Trump is expected to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank.
- The moves come as the Fed prepares to raise interest rates again and start unwinding its $4.5 trillion balance sheet.
Trump set to make first moves at completely revamping the Federal Reserve
Trump set to make first moves at completely revamping the Federal Reserve
Is apolitical Fed sending White House subtle signals? Wednesday, 31 May 2017 | 7:44 AM ET | 01:44
President Donald Trump appears ready to remake the Federal Reserve in an image that will be considerably different than what investors have known for many years.
The president is prepared to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank, according to multiple press accounts that have not been disputed by the administration. Quarles likely would assume the role vacated by Daniel Tarullo to oversee the nation's banking system. White House officials did not respond to a CNBC request for comment.
Should Trump nominate the two men and they receive confirmation, it will represent the first steps in a possible substantial remaking of a Fed that has practiced ultra-loose monetary policy for the past decade but has been tight on banking regulations.
Trump will have the opportunity to name one more person now, then can fill two even more critical vacancies in 2018 — that of Chair Janet Yellen and Vice Chair Stanley Fischer.
http://www.cnbc.com/2017/06/05/trump-set-to-make-first-moves-at-com...Comment
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Comment by Less Prone on June 8, 2017 at 8:40pm
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Dissolve the debt money scammer's cartel and take control of your own money, NOW.
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Comment by Central Scrutinizer on June 8, 2017 at 4:35pm
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Aye...revamp it all right...into an incinerator, & scatter the ashes to the four winds, Wake the fak up DJT & do the right thing...ELIMINATE IT!!!
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Comment by Tonybinid on June 8, 2017 at 3:25pm
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Why revamp it when you can abolish it and have our Treasury print/coin money at zero interest?
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