By Howard Schneider
WASHINGTON, Aug 26 (Reuters) - U.S. President Donald Trump's efforts to oust Federal Reserve officials to clear room for his own appointees have been stalled so far by the courts and political pushback in the Senate, but he may still have as many as four opportunities to try to beef up his influence over the central bank's policy committee.
Trump has so far stood behind Fed Chairman Kevin Warsh even though his handpicked appointee sidelined talk of the interest rate cuts the president has been demanding. Warsh also set aside all rate guidance in June, shortly after becoming head of the central bank.
While Warsh has talked often about the "incredible team" at the Fed — an institution designed to be insulated from politics by having only two of the seven seats on its Board of Governors expire in any one presidential term — Trump last month said he regarded the central bank's board in general as "maybe a little bit hostile," and as standing in Warsh's way.
"I know he would love to see lower interest rates. But he has got a board, and it's a political board," Trump said.
#interest
WASHINGTON, Aug 26 (Reuters) - U.S. President Donald Trump's efforts to oust Federal Reserve officials to clear room for his own appointees have been stalled so far by the courts and political pushback in the Senate, but he may still have as many as four opportunities to try to beef up his influence over the central bank's policy committee.
Trump has so far stood behind Fed Chairman Kevin Warsh even though his handpicked appointee sidelined talk of the interest rate cuts the president has been demanding. Warsh also set aside all rate guidance in June, shortly after becoming head of the central bank.
While Warsh has talked often about the "incredible team" at the Fed — an institution designed to be insulated from politics by having only two of the seven seats on its Board of Governors expire in any one presidential term — Trump last month said he regarded the central bank's board in general as "maybe a little bit hostile," and as standing in Warsh's way.
"I know he would love to see lower interest rates. But he has got a board, and it's a political board," Trump said.
#interest
20 days ago
