Trump’s pick of Moore for Fed sparks concern among bankers
By Victoria Guida
President Donald Trump’s choice of former campaign adviser Stephen Moore to serve on the Federal Reserve Board is stirring misgivings among some bankers, who worry that the conservative economist would erode the Fed’s political independence. Moore hasn’t been formally nominated or even fully vetted by the White House yet, but Trump’s enthusiastic announcement that he would tap the Heritage Foundation economist for the central bank caught both Washington and New York off guard. …“Bankers are very strongly and institutionally committed to the Fed,” said Karen Petrou, managing partner at Federal Financial Analytics. “They disagree individually and sometimes collectively with what it does, but I don’t think there’s any substantive dispute from the smallest to the biggest banks of the need for an independent Fed.”