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Trump's military interventions concern China despite there being no direct risk
Trump's military interventions concern China despite there being no direct risk
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Federal Reserve Chair Jerome Powell made a point of avoiding any comments with political implications at his press briefing on Wednesday, but President Donald Trumps nomination of Kevin Warsh on Friday to become the new Fed chief has put Powells remarks in a different light.Recommended Video Warsh, a former Fed governor, has been critical of the central bank since hes been on Trumps short list to replace Powell. In recent months, he has called on the Fed to rethink its economic models and revamp as well as shrink its staff. What the Fed really needs to do is change their operating framework, Warsh said on Fox Business in October. They need to change their models. They need to change a lot of personnel. When asked on Wednesday what advice Powell would give to his eventual successor, he suggested staying away from politics while also actively engaging with members of Congress, which is the institution that demands accountability from and provides legitimacy to the Fed. And whether this was intentionally aimed at Warsh or not, Powell also delivered a robust defense of the Feds personnel. Its easy to criticize government institutions in so many ways, he said. I will tell whoever it is: Youre about to meet the most qualified group of people you not only have ever worked withyou will ever work withwhen you meet Fed staff. And not everybodys perfect, but there isnt a better cadre of professionals who are more dedicated to the public well-being than work at the Fed. Powell was also a
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