FEDERAL RESERVE/TRUMP AS PRESIDENT/TRUMP PEOPLE: “President Trump nominated Nellie Liang, a longtime Federal Reserve staff member who is an expert on financial regulation, on Wednesday [9-19-18] to join the Fed’s board of governors. Ms. Liang, 60, played a key role in the Fed’s efforts to tighten oversight of the financial system after the 2008 crisis, including the creation of a new Fed department focused on monitoring financial stability. She is well known and well regarded in the close-knit world of central banking, and Mr. Trump’s decision was applauded by her peers. Carl R. Tannenbaum, the chief economist at Northern Trust, called the nomination an ‘inspired choice.’ Ms. Liang, a registered Democrat, would bring to the Fed’s board deep experience on questions of regulation and the stability of the financial system, an area that the Fed chairman, Jerome H. Powell, has described as increasingly important. Her views, however, appear to conflict with those of Mr. Trump, who has called for the Fed to reduce its postcrisis strictures on the banks.”
–Binyamin Appelbaum, “Trump Picks Expert on Regulation for Federal Reserve Board,” The New York times online, September 19, 2018