Fed's Goolsbee says a "shadow" Fed chair would have no influence on policy debate - CNBC
ReutersJun 26, 2025 1:11 PM
WASHINGTON, June 26 (Reuters) - A decision by President Donald Trump to name a replacement for Fed chair Jerome Powell would have no influence on monetary policy from outside the central bank, Chicago Fed president Austan Goolsbee said on Thursday in comments to CNBC's Squawk Box.
"That would have no effect," Goolsbee said of the possibility that Trump might name his nominee for when Powell's term as chair ends in 11 months in hopes of influencing interest rates in the meantime. "We have a chair of the (Federal Open Market Committee)...That's Jay Powell. What somebody who is not the chair thinks about monetary policy -- they can have whatever opinion they want. We have to go every six weeks and have votes."
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