Trump says he’ll nominate Christopher Waller and Judy Shelton to Federal Reserve
1 / 2 Bank President James Bullard, who was the only dissenting vote in favor of a rate cut at the Fed’s meeting in June. Shelton, a conservative economist who has been an informal adviser to Trump, has publicly said the central bank should lower rates.Trump, who announced his picks on Twitter, has recently struggled to find candidates for the Fed that are acceptable to senators who confirm nominees. Trump has named four people for the two remaining open seats on the board of governors.
Trump, who announced his picks on Twitter, has recently struggled to find candidates for the Fed that are acceptable to senators who confirm nominees. Trump has named four people for the two remaining open seats on the board of governors. None of them has made it through the Senate, raising questions about the White House vetting process for his picks.
The White House has conducted the search for Fed candidates as Trump has repeatedly blasted Fed Chairman Jerome Powell over the Fed’s interest rate increases. The president has told confidants that he believes he has the authority to replace Powell as Fed chairman, demoting him to the level of board governor, according to people familiar with the matter. But Trump said he doesn’t plan to do it. The president chose Powell for the Chair, replacing Janet Yellen last year.
He’s held positions at the University of Kentucky, the Center for European Integration Studies at University of Bonn, and Indiana University’s Department of Economics.
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