Saturday, June 9, 2018

Senate Banking Panel to Vote on Two Fed Nominees

The Senate Banking Committee has scheduled a vote Tuesday on two of President Trump’s nominees for the Federal Reserve Board, reports the American Banker.

The panel will vote on economist Richard Clarida to be vice chairman of the Fed board, as well as Kansas Banking Commissioner Michelle “Miki” Bowman, who was nominated for a seat designated for a community banking expert.

As I have already reported, Clarida appears to be an advocate of Taylor rule-type monetary policy.

As for Bowman, I have reported that she appears to be a second-tier government operative who will go along with the influencers on the board.


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