Sources: Trump Unlikely to Decide on "Shadow Fed Chair" in the Near Term
According to a report by Jinse Finance citing foreign media, a source familiar with White House deliberations said on Thursday that U.S. President Trump has not yet decided who will succeed Federal Reserve Chairman Powell, and will not make a decision soon. The source downplayed the likelihood of Trump taking swift action. Previously, The Wall Street Journal reported that Trump was considering nominating Powell’s successor ahead of schedule, hoping that this person could immediately exert influence and persuade the Fed to cut interest rates as the president desires. Chicago Fed President Goolsbee stated that appointing a “shadow” chairman would have no impact.
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