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Trump sets fed appointing governor:
UNITED STATES
Trump appoints one of his governor advisers to the Fed – Trump sets fed appointing governor
Donald Trump set foot in the American central bank by appointing one of his advisers on Thursday Governor. Therefore, Stephen Miran.
Stephen Miran, President of the Council of Economic Advisors, and American President Donald Trump.
AFP
US President Donald Trump plans to propel his economic advisor Stephen Miran to a strategic position within the United States Central Bank (Fed). Moreover, whom he wants to lower interest rates.
The appointment of Stephen Miran. However, tireless defender of the president’s economic policy in the media, is still necessary to be confirmed by the Senate with a republican majority.
The Head of State had given himself a few days to decide the. Nevertheless, name of the person who will take the place of Governor Adriana Kugler. Nevertheless, The latter announced her resignation last week, when her mandate was to end a few months later.
In a message on Thursday on his Truth Social network. Consequently, Donald Trump announced that Stephen Miran, who chairs the White House Economic Council, would occupy the seat of Adriana Kugler until the term of the mandate, on January 31, 2026. However, “In the meantime, we will continue to seek a permanent replacement,” he said.
Seven members – Trump sets fed appointing governor
The Council of Governors of the Federal Reserve includes seven members. including the President of the Central Bank, Jerome Powell. All sit on the monetary policy committee (FOMC) which has twelve people voted on American interest rates.
Donald Trump. who ignores the independence of the Central Bank, has been asking for his return to the power of the drastic decreases of these rates which guide the cost of credit since his return to power and trump sets fed appointing governor have a strong influence on the financial markets.
“Stephen holds a doctorate in economics from Harvard University and distinguished himself during my first mandate. He has accompanied me since the start of my second term. his expertise in the field of the economy is unequaled. He will do remarkable work, ”said the president in his message.
Adriana Kugler became governor in 2023 on the proposal of the former Democrat-President Joe Biden. Her departure. of which she did not reveal the reasons, allows Donald Trump to accelerate the change of governance at the top of the institution.
Who to replace Powell?
Another appointment is eagerly awaited: that of the person who will replace Jerome Powell, whose mandate ends in the spring. Donald Trump explained at the start of the trump sets fed appointing governor week that he had four candidates for this position.
Ex-government Christopher Waller is a favorite, according to the Bloomberg agency on Thursday. He opposed the maintenance of rates at their current level at the Fed meeting at the end of July. pleading on the contrary for a drop, of fear of rapid degradation of the labor market.
The employment figures for July. published two days later, showed that the labor market was going worse than expected, giving the comments of Christopher Waller of the tunes of prophecy.
Jerome Powell. who had become president of the Fed on the proposal of Donald Trump during his first mandate, is now the Bane of the American president. The latter seemed to seek a way to dismiss him and asked him to resign. He also trump sets fed appointing governor strongly suggested to other central bankers to overthrow him.
Suspicion
According to analysts. Donald Trump’s desire to weigh on monetary policy decisions will throw the suspicion of those they call, when the American economy seems to vacillate under the effect of his protectionist offensive.
“Stephen Miran is a faithful supporter of Trump and one of the main architects of chaotic customs policy (…) who weighs on the portfolio of the Americans and our economy,” said Democratic Senator Elizabeth Warren in a statement.
The opponent warns that she will try to know. during the hearing in the Senate, “if he will serve the American people as an independent voice within the Fed or if he will just serve Donald Trump”.
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