Donald Trump’s advisers are encouraging him to nominate a temporary Federal Reserve governor to fill the soon-to-be vacant seat on the central bank’s board, according to people familiar with the discussions. Naming a governor to serve out the term for the seat opening soon — set to expire in January 2026 — would give Trump additional time to interview candidates to serve as chair when Jerome Powell’s tenure leading the central bank ends in May of next year, the people said. Fed Governor Adriana Kugler announced last week that she plans to vacate her role on Aug. 8.
A short-term governor is likely to be already in the government and who has previously been confirmed by the Senate for a federal job, two people said. The nominee will need to clear Senate confirmation, a vetting process that has traditionally taken months, but could be expedited if Trump pressures lawmakers to quickly fill the seat. Trump is slated to meet with advisers on Wednesday about the Fed pick, one person said. Trump on Tuesday said he would make his decision for a replacement for Kugler this week as he looks to make his imprint on the central bank. No decision should be deemed final until announced by Trump, a White House official said.
Source: Yahoo! Finance
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