Marvin Goodfriend, President Donald Trump's nominee for a Federal Reserve Board seat, was expected to coast to his confirmation in the Republican-controlled Senate. After a rocky hearing last month before lawmakers, that's now in doubt. The Senate Banking Committee has scheduled a vote on Goodfriend's nomination for Thursday. Though approval at this stage is likely, a final decision by the full chamber appears too close to call, with opponents on the left and right lobbying against his confirmation. "He had a dreadful hearing, and there is a contingent of the Republican party that loathes the Federal Reserve more than it likes the White House," said Isaac Boltansky, an analyst at Compass Point Research & Trading in Washington.
Nominee For Fed Seat No Longer A Shoo-in
By Christopher Condon, Bloomberg news, Houston Chronicle: Business
Wed, 02/07/2018 - 7:51pm
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05/24/2024 - 1:01 am | View Link - Expect Higher-for-Longer Interest Rates, Fed’s Bostic Says
Atlanta Federal Reserve President Raphael Bostic expects to hold interest rates steady until it is clear that inflation is heading back to 2%.
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Fed minutes reveal uncertainty about inflation progress, support for restrictive rates. Market reactions include slight uptick in yields and cautious risk sentiment.
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