While Trump Grumbles About Fed, His Picks Exude Pragmatism

By Anonymous

Sustained attacks by the president on the central bank could rattle the markets if investors fear the Fed might be pressured into leaving rates too low for too long. That isn’t a problem right now.

President Trump’s pique over the Federal Reserve’s interest-rate increases this summer stoked fears about a looming blowup between the White House and the central bank. His nominees to the Fed’s board show his administration isn’t spoiling for a fight.

The selections also illustrate how the man he named as Fed chairman, Jerome Powell, has consolidated power in short order and ahead of delicate policy decisions he could confront soon.