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Trump’s economic advisors shortlist candidates for Federal Reserve

Trump’s economic advisors shortlist candidates for Federal Reserve

In the intricate political drama in the US, economic strategists for former President Donald Trump, who may eye another presidential bid, have reportedly outlined a selection of candidates poised to steer the US Federal Reserve. Sources close to The Wall Street Journal revealed that Trump’s economic advisors, Stephen Moore and Arthur Laffer, have shortlisted not one but three individuals as potential successors to Jerome Powell, the current Fed Chair, whose term may extend until 2026 or even 2028. Among those considered for this pivotal role are Kevin Warsh, noted for his tenure under George W. Bush and his contributions to the Fed, alongside Kevin Hassett, who was integral to Trump's economic policies. Arthur Laffer, a revered figure from Ronald Reagan's days and a key architect of Trump’s 2017 tax cuts, is also on the list. Trump has yet to signal his favorites, presumably searching for a nominee capable of delivering a surprise. This strategy recalls Trump's appointment of Powell, followed by swift and vocal disapproval of Powell's monetary policy decisions, criticizing him for untimely rate hikes and delayed cuts. In an intriguing twist, Joe Biden has awarded Powell a second term. At the same time, Trump ominously hinted at a potential shake-up should he return to office in 2024, suggesting Powell might need to seek employment elsewhere. The question of whether Trump will adhere to his pronouncement or opt for a subtler approach remains open. As Trump and Biden secure their positions for the upcoming electoral showdown, their official nominations await the summer's formalities. The pre-election period unfolds like a marathon, starting long before the race's official commencement. The upcoming November 5, 2024 election will ultimately reveal who crosses the finish line in this high-stakes political contest.

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