WASHINGTON (Reuters) – U.S. President Donald Trump intends to nominate former Fed economist Nellie Liang to the U.S. central bank’s board of governors, the White House said on Wednesday.
Earlier, two White House officials speaking on condition of anonymity told Reuters that Liang boasts a strong background on financial and monetary stability, including crisis response, it is considered the best fit for your Fed board.
Liang established the Fed’s Division of economic Stability in fact. She joined the Brookings Institution in 2019.
In an Aug. 20 interview with Reuters, Trump said he was “not thrilled” when using the Federal Reserve under his appointee, Chairman Jerome Powell, for raising home interest rates and claimed it should do more to support him to further improve the economy.
Liang can be described as senior fellow in economic studies along the Brookings Institution including a visiting scholar on the International Monetary Fund’s monetary and capital markets department.
Liang spent the majority of her career as an economist at the Fed, and was tapped in your wake with the 2007 to 2009 recession to enhance out its fledgling office of financial stability.
Issues around financial stability have figured increasingly through the Fed’s policy debates, as policymakers created new oversight strategies which include the stress testing of banks and deliberated over whether financial market risks should influence the path of interest rates.
In a paper presented at Brookings last week Liang argued that officials is deserving of in front of potential issues early and forcefully, a perspective she had carry in the board as the Fed considers methods to prepare for any future downturn.