Trump chooses anti-independent Fed Reserve Stephen Miran to fill recently-vacated Fed seat

[Roadvirus]

No doubt being groomed as Trump's Fed sycophant Powell's successor


WASHINGTON, Aug 7 (Reuters) - U.S. President Donald Trump on Thursday said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant seat at the Federal Reserve while the White House seeks a permanent addition to the central bank's governing board and continues its search for a new Fed chair.

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Miran, in a paper he co-authored last year for the Manhattan Institute, laid out a case for increasing presidential control of the Fed Board, including by shortening their terms. He also wants to end the "revolving door" between the executive branch and the Fed, and nationalize the Fed's 12 regional banks.

Trump picks Stephen Miran to fill open spot on Fed Board

The appointment gives President Trump a potentially more direct route to pursue his desire for easier monetary policy and sway over the world's most influential central bank.

www.reuters.com

Here's an article that expands on Miran's plan to politicize the Fed Reserve:

Trump's Fed pick wanted to upend its protection from politics

It is unclear how Miran's proposal could affect his chances for Senate confirmation.

www.reuters.com

 

[Rexedgar]

I think Stephen Moore is angling for that post when it becomes available.

 

[aociswundumho]

He's going to get his low interest rates one way or another.

 

[SNOWFLAKE]

He's going to get his low interest rates one way or another.

He also wants to end the "revolving door" between the executive branch and the Fed, and nationalize the Fed's 12 regional banks.

Now THERE is socialism for ya. Don't ya agree?

 

[aociswundumho]

Now THERE is socialism for ya. Don't ya agree?

You bet. Central banks are one of the worst socialist institutions ever.

 

[Loulit01]

He's hired an anti-EPA guy to run the EPA. A wrestling maven to run Education. An Anti-vaxxer to run HHS. And monumentally unqualified people to run Intelligence, Defense, and Homeland Security. So why not an anti-IRS guy to run the IRS and an anti-Fed guy to run the Fed?

 

[Loulit01]

Regard

He's going to get his low interest rates one way or another.

Regardless of the massive recession that will result.

 

[aociswundumho]

Regard

Regardless of the massive recession that will result.

No, it's going to result in inflation. Which benefits borrowers. And there ain't no bigger borrower than the USG.

 

[Airyaman]

Lol, what an idiot.

 

[Roadvirus]

Lol, what an idiot.

It's a fire alright. The Towering Inferno.