Trump’s shadow looms over review of regional Fed heads
Experts say president could use process to further erode bank’s independence
US president Donald Trump’s administration could use the forthcoming reviews of the heads of regional Federal Reserve banks to erode another long-standing pillar of the central bank’s independence, experts have warned.
The presidents of the 12 regional Feds are appointed by the respective banks’ boards of directors to serve five-year terms. Those appointments need to be approved by the Fed’s board of governors in Washington, DC, which reviews their performance and ethics every five years. The
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