Jim Bianco, Columnist

Trump's Latest Picks May Be What the Fed Needs

The central bank suffers from groupthink and would benefit from a few dissenters.

July 3, 2019 at 3:00 PM UTC

Jim Bianco is the President and founder of Bianco Research, a provider of data-driven insights into the global economy and financial markets. He may have a stake in the areas he writes about.

Federal Reserve Chairman Jerome Powell may get some unwanted help.
Photographer: Bloomberg

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Before I offer thoughts on President Donald Trump’s latest two nominees to the Federal Reserve’s Board of Governors and the challenges they face, some full disclosures are in order.

I interviewed for one of the open governor positions at the White House in late May. I have an unconventional background for a Fed governor as I don’t have a Ph.D. in economics. What I do have is 29 years of experience on Wall Street and running my own market advisory service commenting on markets and Fed policy. But that was the point! I am different and the thinking was that it was time to break the mold for picking Fed policy makers. I thank the White House for inviting me, listening to my ideas and giving them serious considerations.