Trump to Name New Fed Governor, Jobs Data Head in Coming Days [View all]

Source: msn/Bloomberg

10h


(Bloomberg) -- President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth.

Trump made the comments to reporters Sunday on his way back to the White House from a weekend in Bedminster, New Jersey. He has faced criticism for his relentless attacks on the Fed and for firing Bureau of Labor Statistics chief Erika McEntarfer after data showed weak jobs growth — moves that are seen as undermining institutions typically viewed as free from political influence.

For the Fed, the president said he has a “couple of people in mind” for the role that opened up after Adriana Kugler announced Friday that she would vacate her board of governors seat, which wasn’t due to expire until January. Her exit handed Trump a sooner-than-anticipated opportunity to appoint a governor who more closely aligns with his preference for lower interest rates.

National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, current Fed Governor Christopher Waller and Treasury Secretary Scott Bessent have all been floated as contenders to lead the central bank. Trump’s nominee for the open governorship could move into the chairman role when Jerome Powell’s term expires in May.

Read more: https://www.msn.com/en-ph/money/markets/trump-to-name-new-fed-governor-jobs-data-head-in-coming-days/ar-AA1JPX7s