Trump Criticizes Fed Chair Powell, Potential Impact on Future Nominee

According to BlockBeats, U.S. President Donald Trump has labeled Federal Reserve Chair Jerome Powell as a 'major loser.' However, the greater consequence of Trump's disputes with the Federal Reserve may affect his choice for Powell's successor next year. Trump's attempts to influence policy by criticizing the Fed could cast a 'shadow of doubt' over his nominee. Lawrence Summers, who served as Treasury Secretary under President Clinton from 1999 to 2001, commented that public criticism of the Federal Reserve by presidents is unwise. He noted that the Fed either ignores such remarks or feels pressured to demonstrate its independence, which could result in maintaining or increasing short-term interest rates.