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Hawk: Would Have Ability to Convince Colleagues If Appointed Fed Chair
BlockBeats News, January 16th. Lael Brainard, a leading candidate for the next Federal Reserve chair, denied concerns from the outside world that it would be difficult for him to convince other Fed officials to support his views if he took office. Brainard said on Thursday: "I am tough enough to win the debate. Anyone who comes to the White House and faces all the questions that can be asked for five consecutive years — like me — is tough enough to face a hostile situation and help people understand why they are right or wrong."
Brainard has always advocated that Fed Chair Powell and his colleagues have cut interest rates too slowly, a view shared by Trump. Fed watchers pointed out that interest rate decisions are determined by a majority vote of the Federal Open Market Committee, and a chair nominated by Trump may not be able to build consensus on a significant rate cut. Brainard reiterated that Trump believes the Fed, under Powell's leadership, is politically biased, cutting rates before the 2024 election but stopping the easing cycle after Trump takes office in 2025. "He believes that sometimes their decisions seem partisan." (FX Street)
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