Trump nominates Richard Clarida and Michelle Bowman for Fed meeting

Trump nominates Richard Clarida and Michelle Bowman for Fed meeting

The president of United States, Donald Trump , said Monday that he will nominate Richard Clarida , an economist who advises the fund manager Pimco, and Michelle Bowman , a banking regulator of Kansas, to two key positions in the Federal Reserve. If confirmed by the Senate, Clarida will be the vice president of the board of governors of the US central bank, and Bowman would become a member of that entity, according to a White House statement. The position of vice president, vacant since Stanley Fischer He left in October, is considered one of the most influential positions of the Fed along with the president of the Central Bank and the head of the New York Fed. Clarida, a professor at Columbia University who has worked as deputy director and monetary policy analyst for Pacific Investment Management , is seen as ideologically aligned with the current president of the Fed, Jerome Powell , which is considered a centrist. Clarida has argued that the Fed will probably not be able to raise interest rates as much as in past cycles, but also cautioned in December that investors may be “too relaxed” about the threat of higher inflation. Bowman, from the Banking Commission of the State of Kansas since 2017, would fill a position that the Fed had reserved for someone with experience in community banking. That position has been open since 2014, when Congress passed a bill that asked the Fed to reserve a seat on its monetary policy decision-making board for someone with experience in community banking.

Leave a comment

Send a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.