BREAKINGVIEWS-White House ensures its own Fed nightmare

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Gabriel Rubin

WASHINGTON, April 29 (Reuters Breakingviews) - President Trump’s push to install a pliant central bank majority is backfiring. Outgoing Chair Jay Powell now says he will remain as a member while threats to the institution remain. Add record discord over policy and an oncoming oil shock, and rate cuts are moving out of reach.

Full view will be published shortly.

Follow Gabriel Rubin on Bluesky and LinkedIn.

CONTEXT NEWS

Federal Reserve Chair Jerome Powell said on April 29 that he would stay on the central bank’s board as a governor indefinitely following the conclusion of his term as chair on May 15, at least until he has deemed the threat of a criminal investigation into the Fed’s headquarters renovations to be “truly” over.

Earlier on the same day, the Senate Banking Committee advanced the nomination of Kevin Warsh to be the Fed’s next chair on a party-line 13-11 vote, clearing the way for his confirmation by the full Senate in the coming days.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.