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It’s Donald Trump’s Fed now.
Trump relentlessly attacked the Federal Reserve on the campaign trail, saying Chair Janet Yellen haswas refusing to raise interest rates in a bid to artificially boost the economy and help Democrats. “She is very political,” he said in September, and “she should be ashamed of herself.”
Now, Trump has the chance to reshape the central bank within the first 18 months of his presidency.
As soon as he enters the White House, he could submit nominations for two vacant Fed governor seats, as well as for the powerful post of vice chair of supervision, which oversees the nation’s biggest banks. That would mean he could instantly make his mark on both monetary and regulatory policy.