Biggest immediate change for Fed under new chair likely to be tone shift

The Washington Examiner cited CEI’s expert on inflation

Ryan Young, a senior economist at the Competitive Enterprise Institute, pointed out that the new chair would be able to call such emergency meetings.

“And I wonder, you know, one test of how much would the new chair be their own person would be if they call an emergency meeting or not or if they wait” for the next scheduled meeting, Young told the Washington Examiner.

Aside from monetary policy, the Fed chair might also try to immediately change the central bank by making staffing changes or canceling research that might be controversial. Much of that, though, would still have to go through the regional Fed banks and their presidents rather than through whoever Trump picks to lead the Fed.

Read more at The Washington Examiner