If personnel is policy, where are the personnel?
By John Heltman
President Trump reiterated his promise this week to ease banking rules in a meeting with more than 100 community bankers, but there is substantial skepticism of when he may be able to deliver on those promises given the delays in nominating key regulators to vacant seats. Karen Shaw Petrou, managing partner at Federal Financial Analytics, said that lost amid the ballyhoo around the administration’s real or perceived accomplishments in its first 100 days was the true purpose of what that milestone is meant to signify: the time necessary to nominate and confirm the personnel for important positions in the government. After that time, the government traditionally begins enacting the president’s agenda, Petrou said, but this administration does not appear to be in a hurry. “The first hundred days are for formally nominating these people, during what is also supposedly your honeymoon period,” Petrou said. “That’s why it’s not unrealistic to assume that after the first 100 days you’ve [made] … not just the nominations, but you’ve set the tone.”