Trump’s final 5 candidates for Fed chair

Donald Trump said he was close to a decision about his strongest economic appointment, the next Federal Reserve chairman.

While Trump revealed the possibility that Janet Yellen would be recruited, she announced she was worried about the President's desire to cancel the financial rules she currently carries out.

Trump's two favorites are Jerome Powell, current Fed member and Kevin Warsh, former Fed Governor.

Here are more details for candidates for the Fed chair

1. Jerome Powell

Powell spent most of his career at the Carlyle Group where he accumulated millions of dollars. He is the richest member of the Fed at the moment, and has always been the centerpiece of voting on the board of the central bank. But he has expressed a desire to return some pre-crisis rules that will definitely satisfy Trump's wishes.

2. Kevin Warsh

As the Governor of the Fed, Warsh was allied with Ben Bernanke during the 2008 crisis. Warsh is also opposed to the Fed's bond buying program, although he has repeatedly voted in favor of the program.

3. Janet Yellen

Most Wall Street participants are of the opinion that Yellen is the most prepared candidate for the position. She managed to eliminate the differences between the members of the bank and her successful first term will have a strong influence on Donald Trump's decision.

4. John Taylor

John Taylor, a Stanford economist and former Secretary of State for International Affairs, is always in the Republican list of potential cadres for the Fed, but he never gets the job. The same is likely to happen this time. Taylor's appointment will be highly destructive for the financial markets, given his repeated Hawkish character for monetary policy, which has called for significantly higher interest rates, despite inflation below the target.

5. Gary Cohn

Cohen is the least qualified of the five candidates. He has no experience in the field of monetary policy or macroeconomic theory, as his career is in the ranks of Goldman Sachs as a commodity trader. The probability that he will receive the post is unlikely.

Source: Bloomberg Pro Terminal

Jr Trader Petar Milanov

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