Economic advisers to former President Donald Trump’s re-election campaign have offered a shortlist of candidates to replace Jerome Powell as chairman of the Federal Reserve.
The Wall Street Journal, sourcing its coverage from unnamed “people familiar with the matter,” reported Trump advisers Steve Moore and Arthur Laffer recommended Kevin Warsh, an economic-policy adviser to President George W. Bush who later served on the Fed’s board of governors and Kevin Hassett, a former chairman of the Council of Economic Advisers during the Trump administration. Laffer, an economic adviser to former President Ronald Reagan and to Trump’s 2016 election campaign, also offered himself for consideration.
Powell, who was appointed by Trump in 2018 and reappointed by President Biden in 2022, serves as the central bank’s chairman into 2026 and will remain on the Fed’s board through early 2028. Trump soured on his appointment of Powell during his presidency and has stated he would not consider him for a new term, adding that he believed Powell will cut rates later this year to benefit Biden’s re-election.
Trump reportedly did not commit to the proposed candidates. Moore told the Journal, “If he wins the election, this is going to be perhaps, other than maybe a Supreme Court nominee, one of his most important decisions in terms of personnel. Our committee agrees – and Trump certainly agrees – that Powell was a mistake, so we want to make sure we don’t make a mistake again.”
;
So, Reagan ‘trickle down’ guy wants back in after that policy was an abject failure and Bush 2 financial markets guy also wants back in to oversee another national financial debacle?
After we have seen the fed rules by some common sense and a guided soft landing in lieu of the projected mostly right wing ‘the sky is falling’ recessionary pundit led by the likes of Larry Kudlow, none of which seem to admit, while not perfect, the economy is more robust than ever. Lower inflation after coming out of Covid recessionary pressures, lowest unemployment ever, most jobs created in comparable administrations lifespans, stature in world is high, best recovering economy in the world.
So tell me again why we should listen to any suggestions or recommendations from the likes of Trump and his sychophants advocating for the loss of our democratic republic and also continued abeyance to the wealthy interest over the middle class who built this economy as it always has and tries to continue.
If 45 thinks Powell will cut rates to aid Biden’s reelection, well then, 45 ought to have another “think” and try taking politics out of the equation and putting the country instead of himself FIRST.
Susan, I so agree, it seems to never be about the United States, but always about Trump and his EGO! We need to keep our country first.
I’m sorry – are you guys not seeing the same inflation I am? Or remember how drastic the Fed hikes were because they delayed them for so long, denying the status of the economy until it was too late? Do you not check your grocery receipts and feel like you got robbed?
Chairman Powell and the Board of Governors failed to raise rates in late 2021 when our economy started showing signs of massive inflation. By the time they initiated the first rate hike in March 2022, it was too late and the quarter point hike wasn’t enough. That said, the Fed has done an incredible job of managing historic inflation without driving our economy into a recession. What the Feds have done is an absolute miracle. So they have made up for their mistake on the delayed rate hikes. Trump has no business playing around with our economy. We saw what happened the first time around. People are forgetting the tariffs we had to pay because Trump didn’t like certain countries. The man can stay in Mar-a-Lago and golf all day. That’s what he’s gonna do anyway.
45 has all the answers ! Never seen a guy that’s been so “perfect” and never made a mistake in his whole life! It’s never been country first for him, regarding interest rates or anything he has an opinion on.
I wish someone could “cut the strings” of his congressional puppets and we could get back to
some semblance of governing to address the important issues in place of Trump’s latest rant.
What a piece of work!