WSJ: Early Announcement of Powell’s Successor by Trump Could Backfire

BlockBeats News, June 26 — In a joint article, Wall Street Journal reporter and “Fed whisperer” Nick Timiraos, along with his colleague Brian Schwartz, noted that announcing the Federal Reserve chair nominee in advance could have negative consequences for both Trump and the nominee. This move could put the incoming chair in an awkward position: if they publicly criticize colleagues they will soon work with at the Fed—whose support is crucial for Senate confirmation—the market may view them as merely pandering to the president. On the other hand, if they choose to defend the Fed’s policies, they risk angering Trump and potentially losing the position before even taking office. (Jin10)