All articles tagged with #fed appointments
Treasury Secretary Scott Bessent proposed a new rule requiring regional Fed bank presidents to have lived in their districts for at least three years, potentially allowing the White House to veto their appointments, as part of efforts to increase political influence over the traditionally independent Federal Reserve.
President Trump faced a setback when a court blocked his attempt to fire Fed governor Lisa Cook, but made progress with the Senate approving his nominee Stephen Miran, potentially allowing him to influence Fed policy and interest rates during his term. The case involving Cook's firing is ongoing, raising questions about Fed independence amid political pressures.
The article discusses how increasing political influence, particularly from President Trump, is causing the Federal Reserve to resemble the divided and politicized nature of the Supreme Court, with potential impacts on its independence and decision-making process.