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Trump nominates new Fed candidate: A power struggle over interest rates!
Trump nominates Stephen Miran to Fed; Interest rate policy in focus. The impact on the economy and monetary policy could be significant.
Trump nominates new Fed candidate: A power struggle over interest rates!
Donald Trump is currently preparing for a crucial phase related to the Federal Reserve as he nominated Stephen Miran for a temporary seat on the Board of Governors. This nomination is directly linked to the upcoming appointment of the next Fed Chair, an issue of significant political and economic weight. Current Fed Chairman Jerome Powell has clearly spoken out against Trump's calls for interest rate cuts. This brings additional tension to the situation as Powell's term ends in May and Trump is already exploring other potential successors.
Among the candidates for Federal Reserve chairmanship are Christopher Waller, Kevin Warsh and Kevin Hassett. Waller, who was appointed to the Fed's board by Trump in 2020, showed dissent in the last interest rate decision and could therefore play a decisive role in future monetary policy. Warsh, a long-time Trump ally, also has family ties to the Trump family, while Hassett is known as a supporter of Trump's economic policies and was active in Trump's first term.
influence on monetary policy
The decision on the next Fed chair could have far-reaching global implications for monetary policy. In this context, there are also fears that a politically motivated appointment could undermine confidence in the independence of the Federal Reserve. Trump has already announced that he wants to deal with interest rates more intensively than Jerome Powell, which is likely to further fuel the discussion about the role and objectivity of the Fed.
The coming months will be crucial, not only for the appointment of the next Fed chair, but also for the possible direction the US economy could take. Experts and observers argue that it is essential for the Fed to maintain its independence to promote confidence in monetary policy.
The situation promises to remain tense as Trump pushes forward with his nominations and the public looks ahead to upcoming decisions that could potentially impact the entire economy. it-boltwise and Mirror provide ongoing information about developments in this complex political environment.