Key takeaways from Fed’s rate decision
NatAlliance Securities Global fixed income head Andy Brenner and NatWest Markets co-head of global economics Michelle Girard weigh in on how factors like the Federal Reserve, the presidential election and possible coronavirus stimulus are impacting the markets and the economy.
Chris Waller of the St. Louis Federal Reserve is the newest member of the Federal Reserve Board of Governors and will work side-by-side with Fed Chair Jerome Powell.
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The Trump nominee was approved in a 48 to 47 Senate vote for a term of fourteen years beginning from February 1, 2016, as the opening was vacant.
POWELL WARNS OF UNCERTAIN ECONOMIC OUTLOOK AMID COVID-19
According to his bio, he received a "B.S. in economics from Bemidji State University in 1981, and his M.A. and Ph.D. from Washington State University in 1984 and 1985, respectively. His principal research interests are monetary theory, political economy and macroeconomic theory."
Waller was nominated along with Judy Shelton in July by Trump who touted Waller's experience as Chair of Economics at Notre Dame.
FED NOMINEE JUDY SHELTON HITS WALL IN SENATE
Shelton's nomination is likely dead in the water after falling one vote short in the Senate last month. Her support of the Gold Standard, in which U.S. currency is backed by gold, as well as her writings questioning the Fed's political independence irked Democratic critics. BIDEN SIGNALS TAX HIKES ARE COMING Now President-elect Biden likely has one slot to fill at the Fed. CLICK HERE TO READ MORE ON FOX BUSINESS Source: Read Full Article