Trump picks new Fed Chair, Kevin Warsh | What that means скачать в хорошем качестве

Trump picks new Fed Chair, Kevin Warsh | What that means

(ASSOCIATED PRESS) — President Donald Trump’s nomination of Kevin Warsh to chair the Federal Reserve could bring about sweeping changes at a central bank that dominates the global economy and markets like no other. Warsh, if approved by the Senate, will be under close scrutiny from financial markets and Congress given his appointment by a president who has loudly demanded much lower rates than many economists think are justified by economic conditions. Whether he can maintain the Fed’s long time independence from day-to-day politics while also placating Trump will be a tremendous challenge. Still, former associates and friends of Warsh say that he has the intellectual heft and people skills to potentially pull it off. His family also has connections to Trump that could reduce the pressure from the White House. Warsh has “a judicious temperament and both the intellectual understanding but also the hopefully diplomatic talents to navigate what is a challenging position at this point,” said Raghuram Rajan, an economics professor at the University of Chicago and formerly head of India’s central bank. Warsh would replace current chair Jerome Powell when his term expires in May. Trump chose Powell to lead the Fed in 2017 but this year has relentlessly assailed him for not cutting interest rates quickly enough.