Trump faces a variety of choices as he seeks to fill Fed vacancies

Trump faces a variety of choices as he seeks to fill Fed vacancies


Key Points
  • With the open seat on the influential Federal Reserve Board of Governors, President Donald Trump now has a number of strategic options at the central bank.
  • Will Trump use the position to nominate a gadfly to torment Chair Jerome Powell or pursue a different strategy focused more on the long-term direction of the Fed?
  • While Trump could be tempted to go the shadow-chair route — Treasury Secretary Scott Bessent in the past has advocated for that course — it might be an unappetizing choice for the nominee.



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World Bank raises China growth forecast to 4.8% despite U.S. trade tensions
Finance

World Bank raises China growth forecast to 4.8% despite U.S. trade tensions

Key Points The World Bank predicts China’s economy will grow by 4.8% this year. It had forecast 4% growth in April, when the U.S. briefly ramped up tariffs on Chinese imports to more than 100%. The bank projects China’s GDP growth to ease to 4.2% in 2026, partly due to a slowdown in exports growth. […]

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Finance

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Check out the companies making the biggest moves midday: Verizon Communications — The New York-based telecom provider sank nearly 4% after CEO Hans Vestberg stepped down , replaced by independent lead director and former PayPal CEO Dan Schulman. Starbucks — The global coffee chain dropped almost 4% after a late September series of North American […]

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