Posted on 06/06/2017 6:35:05 PM PDT by Tolerance Sucks Rocks
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.
If the Quarles and Goodfriend moves are indicators of what's to come, things could start getting less comfortable for Yellen. Both are considered solidly conservative, in line with the Republican president and Congress but perhaps not with Yellen.
"Clearly, these appointees are a significant departure from the crowd that we've had on the board," said Christopher Whalen, head of Whalen Global Advisors and a former investment banker and long-time financial analyst. "Yellen is probably the most left-wing Fed chair we've ever had. I also think both Quarles and Goodfriend have much better grounding in the financial markets. That would be refreshing."
Yellen, however, may not think so, particularly if the coalition she has carefully crafted since taking the chair's seat in 2014 starts to unravel.
(Excerpt) Read more at cnbc.com ...
Those who are so inclined, and are not already doing so, might want to pray for the safety of President Trump.
Get rid of it in exchange for Rand Paul’s health care vote. Make his daddy happy.
how about an audit instead of this flim-flam fly-by-nite ripoff ??
Keep draining the swamp....GO TRUMP !!!
Yeah. That’s really going to get the hive humming.
More than anything else. Money supply is the crown jewel, the center of power.
GET OBAMACARE and the TAX PLAN!!!! Geesh Congress START WORKING!!!
Dove versus hawk is not at the same level of the Kill Kennedy because of Federal Reserve theory.
That said...these appointments might mean more than dove versus hawk.
[Yeah. That’s really going to get the hive humming.]
Yeah, no kidding. Prayers for the President and the Secret Service.
Right there with ya.
Exactly.
PRyno and the Turtle are pretty much about doin’ Nuttin’ Honey...
I’m waiting for the day that the Fed stops blaming wages for inflation.
That man has some real stones.
Amen!
Stay away from Daley Plaza
He is a President not a King, he can direct and approve as well as disapprove but the Senate will always feather their nests and stall, stall, feather, stall, stall.
Governors need to get back in the Mix and POKE and PROD these little mini-kings
That was the first thought that went through my mind when I read the headline to this post.
If I were Trump, I’d send special orders to Marine Barracks 8th and I, and I would not leave the WH until the changes are enacted.
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