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Well, that's one more seat on the FOMC that will bow down before Trump, regardless of what the actual facts of the economy are. Then again, after Trump fires every government employee who dares to report something that he doesn't like nobody will really know what the actual facts are anyway.
Yup, I think if he only has yes-men-women working for him he'll crash and burn. I just hope the damage is repairable. Well... I think he's going to crash and burn no matter what but that will quicken its arrival.
He thinks he can lie and everyone will believe it. Gas is $1.98, inflation is way down, everybody loves us, tariffs aren't a tax and will make us great. I think he really believes that, everything is better than it's ever been in the history of the country! You've never seen it this great, people won't believe how much we'll win... but unfortunately for him there are facts. Really, it's the project 2025 folks running the show, maybe they aren't as smart as they think they are.
Remember that Fed (7) and FOMC (7+5=12) were full until today. And Powell didn't say whether he will leave as Fed Governor after his Fed Chair term ends in 05/2026.
Kugler vacancy provides for nominating a potential future Fed Chair as Fed Governor now, and then nominate him/her as Fed Chair ahead of 05/2026.
I have been looking for some details about details of Kugler's "personal reasons" since her absence at the FOMC on Wednesday, but didn't find any. My guess is that if she is to leave, it's better to leave before the academic year begins, rather than in the middle. Henry Kissinger also faced a similar dilemma and forced the choice between being a Special Presidential Advisor vs Secretary of State - he was gone long enough from Harvard and it was pressing him to return or resign - we know how that turned out.
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Jesus.
Kugler vacancy provides for nominating a potential future Fed Chair as Fed Governor now, and then nominate him/her as Fed Chair ahead of 05/2026.
I have been looking for some details about details of Kugler's "personal reasons" since her absence at the FOMC on Wednesday, but didn't find any. My guess is that if she is to leave, it's better to leave before the academic year begins, rather than in the middle. Henry Kissinger also faced a similar dilemma and forced the choice between being a Special Presidential Advisor vs Secretary of State - he was gone long enough from Harvard and it was pressing him to return or resign - we know how that turned out.