Trump to Tap Fed's Jerome Powell for Fed Chairman

[highplainsdem]

Source: WSJ

WASHINGTON—The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn’t describe what they discussed.

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Where he could lead a shift is on regulatory policy. He has advocated loosening some of the financial rules adopted by the Fed and other agencies since the crisis, a position that meshes with Mr. Trump’s deregulatory agenda.

Mr. Powell has suggested softening the Volcker rule barring banks from using their own money to make risky bets and easing some bank stress tests. He also has endorsed reviewing some of the supervisory duties imposed on banks’ boards of directors to prevent them from being burdened with “an ever-increasing checklist.”

-snip-

Read more: https://www.wsj.com/articles/trump-to-tap-feds-jerome-powell-for-fed-chairman-1509568166

[Bernardo de La Paz]

1. GWBush relaxed regulations and gave us the Great Recession as a concillation prize. . nt

[sandensea]

2. Another bankster lapdog.

No surprise there.

Just make sure to sell everything by 2022 or so.