September Federal Reserve Board Composition Forecast: Trump Camp May Have a Four to Three Edge

BlockBeats News, August 31st. In addition to Tim Cook, who is currently "battling Trump" in court, the Federal Reserve Board of Governors (full membership of 7) also includes Powell and two Biden-appointed governors (Jefferson and Barr), who, like Cook, are aligned with Powell. Additionally, there are two governors appointed by Trump in his first term (Waller and Bowman), both of whom voted in favor of rate cuts in July. Trump has nominated his advisor Stephen Moore to fill the vacancy left by Cugler's resignation. The Senate Banking Committee will hold a confirmation hearing for Moore next Thursday. If approved quickly, he may join the Fed in time for the September meeting, meaning Trump will have at least three supporters on the Federal Reserve Board. Furthermore, if the court rules that Trump can dismiss Cook, he will promptly nominate her successor, potentially giving him a majority (four out of seven) on the board. This ruling is unlikely to be made before the September meeting, but Cook's absence could lead to a tie between the three Trump-appointed governors, two Biden-appointed governors, and Powell. (FXStreet)