Donald Trump's opportunity to re-make the Federal Reserve

  • Mr. Trump may immediately appoint three new governors and announce new Chair and Vice Chair intentions in little more than six months.
  • The means of limiting Fed power usually involves forcing mechanical, “rule-based” decision-making onto the Fed and removing its discretion.
  • The Fed and its staff believe the U.S. economy is growing as fast as it can without igniting inflation.

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The following is about Mr. Trump in only one respect: He has an unprecedented opportunity to re-make the Federal Reserve. As active as he has been since the election, neither he nor his staffers has said a word about the Fed, neither policies nor people.