"Former Amazon and New York Fed Executive Takes Helm as Turkey's Central Bank Governor"

Fatih Karahan, Turkey's newly appointed central bank governor, brings a wealth of experience from prominent American institutions and companies, including the Federal Reserve Bank of New York and Amazon. With the country facing significant inflation and currency devaluation, Karahan's appointment is seen as a credible choice to tackle these economic challenges. While the central bank has implemented consecutive interest rate hikes to combat inflation, the ultimate decision-making power still lies with President Recep Tayyip Erdogan, raising questions about the bank's independence. Despite this, investor confidence improved during the tenure of the previous governor, Hafize Gaye Erkan, who unexpectedly resigned citing a "reputation assassination" campaign.