BlockBeats News, June 26th. In an article jointly published by Wall Street Journal reporter and "Fed Oracle" Nick Timiraos and his colleague Brian Schwartz, it was mentioned that announcing the Federal Reserve Chair pick in advance could have a negative impact on both President Trump and the nominee. This could potentially put the incoming chair in an awkward position: publicly criticizing future Fed colleagues (whose support is crucial for Senate confirmation) could make the market see them as merely pandering to the President; on the other hand, defending Fed policies could anger Trump and lead to losing the position before formally taking office. (FXStreet)
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