Christopher Waller, director of research at the St. Louis Fed, will probably hold views on the board similar to his current boss Jim Bullard. The latter was a strong proponent last year of an “insurance cut” to help businesses worried by trade uncertainty, and was in favor of even steeper cuts in September.

The nomination of Judy Shelton, an adviser to the Trump campaign in 2016 and recent U.S. director of the EBRD, is more controversial. She has a long history of unorthodox economic commentary like questioning the basic role of the Fed and advocated pegging the dollar to the gold standard.


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