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Atlanta Fed's new president selection process hits a stalemate

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ME News reports, June 27 (UTC+8), according to "Fed whisperer" Nick Timiraos, people familiar with the matter revealed that the selection process for the new president of the Federal Reserve Bank of Atlanta has reached a deadlock. The initial list of candidates failed to finalize a choice, forcing the bank to restart the selection process that has been ongoing for seven months. On the surface, this is just a procedural hiccup. But at the same time, the independence of the Federal Reserve is facing a severe test. The presidents of the various Federal Reserve banks are crucial for the Fed's independence: they participate in setting interest rates, and their appointment process is deliberately shielded from Washington political influence. (Source: Jinshi)
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