Market Analysis: Federal Reserve Approves Reappointment of 11 Regional Fed Presidents, White House Influence Concerns Temporarily Alleviated

Jinse Finance reported that analyst Matt Grossman stated that some Federal Reserve watchers had previously worried that Fed governors aligned with Trump's stance might attempt to block the reappointment of certain regional Fed presidents for new five-year terms, thereby helping the White House gain more influence over the Fed's policy committee. The Fed announced on Thursday that the reappointments of 11 individuals have already been processed, eliminating the risk that the White House might push for the appointment of presidents more aligned with its position at regional Feds. Atlanta Fed President Raphael Bostic was not reappointed because he is about to retire. Bostic announced his retirement plans last month; in the eyes of some observers, his prospects for reappointment were overshadowed by his disclosure three years ago of failing to comply with senior officials' personal financial transaction rules.