The Governor of the Federal Reserve Christopher Waller It is emerging as one of the main candidates to be the next president of the US Central Bank, he reported Bloomberg News This Thursday, citing people knowledgeable about the process.
Waller has met with members of the president’s team Donald Trumpwho were impressed with him, although he has not yet met the president, Bloomberg News reported. A Fed spokesman did not comment.
“President Trump will continue to payroll the most competent and experienced people to fulfill his promise to United States rich again“said White House spokesman Kush Desai.” However, unless he comes from President Trump himself, any discussion about personnel decisions should be considered pure speculation. “
Trump has repeatedly criticized the president of the Fed, Jerome Powellfor not cutting interest rates and, although he has reversed his threats to try to dismiss him before his mandate ends on May 15, he has accelerated the search for a substitute.
Trump’s choice will be closely examined by its perceived capacity to carry out monetary policy without giving to political pressure, a quality that economists say it is the basis of the ability of any central bank to combat inflation and what supports the financial stability of the US economy.
Powell has not said if he will break the tradition and stay as governor of the Fed when his mandate expires, although analysts speculate that if he felt that the independence of the entity is threatened would do so to deny Trump the opportunity to occupy another vacancy.
Waller, a doctor in economics whose first speech after becoming governor dealing with the independence of the Fed, could dissipate those concerns.
Waller opted for a rate cut at the Fed Julio Meeting and disied along with his colleague Michelle BowmanVice President of the entity appointed by Trump, when the majority decided to keep the short -term indebtedness costs unchanged.
While Trump has requested lower rates in order to reduce the cost of government loans, Waller has built his case arguing that tariffs will not boost inflation and that a labor market in deceleration needs the support of a softer policy. He has rejected the idea that type fixation has something to reduce financing for treasure.
The Economic Advisor of the White House, Kevin Hasettand the former Fed Governor Kevin Warshwhich have also expressed their support for the reduction of rates, they are still considered to direct the institution, according to Bloomberg News.
On Wednesday, Trump said both – together with an unidentified third person – are candidates to occupy the position that Governor Adriana Kugler will soon leave vacant, whose mandate does not expire until January.
