Pressure grows on administration to fill Fed, FDIC seats
By Neil Haggerty
The Federal Reserve has become one of President Trump’s favorite targets. He frequently taunts Fed Chairman Jerome Powell, and recently even suggested that the U.S. central bank is a bigger threat to the economy than China. But at the same time, the administration has struggled with filling two vacant seats on the seven-member Fed board, leaving many in Washington perplexed over why the process has stalled. “This is another example of what one might likely call the idiosyncratic way that the Trump administration seems to operate,” said Karen Shaw Petrou, managing partner at Federal Financial Analytics. “They have pretty much broken all of the procedural rules and this is another example.”