The timing doesn’t line up.
The hearing is scheduled for November 5, but Cook will be in Europe attending a conference on financial and monetary policy and can’t be there. The earliest it could be held is after the Fed’s December 8–9 policy meeting.
In a letter to the White House, attorney Abbe Lowell questioned the impartiality of the mortgage-fraud investigation: all the committee members were appointed by Trump, including National Economic Council Director Hassett. Last Friday, Trump called her “dishonest” and said he would “absolutely” fire her if the committee found grounds for her removal. He has long sought tighter control over the Fed, with the aim of lowering borrowing costs. If the personnel hearing is pushed past the December meeting, expectations for rate cuts will first get caught up in the battle over her removal, rather than the policy decision itself.
#美联储 #货币政策
The hearing is scheduled for November 5, but Cook will be in Europe attending a conference on financial and monetary policy and can’t be there. The earliest it could be held is after the Fed’s December 8–9 policy meeting.
In a letter to the White House, attorney Abbe Lowell questioned the impartiality of the mortgage-fraud investigation: all the committee members were appointed by Trump, including National Economic Council Director Hassett. Last Friday, Trump called her “dishonest” and said he would “absolutely” fire her if the committee found grounds for her removal. He has long sought tighter control over the Fed, with the aim of lowering borrowing costs. If the personnel hearing is pushed past the December meeting, expectations for rate cuts will first get caught up in the battle over her removal, rather than the policy decision itself.
#美联储 #货币政策