U.S. President Donald Trump gestures with Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve at the White House in Washington, U.S., November 2, 2017. REUTERS/Carlos Barria/File Photo Purchase Licensing Rights
Donald Trump's eventual nominee to replace Federal Reserve Chair Jerome Powell will face heightened confirmation obstaclesfollowing the administration's contentious attacks on the incumbent, according to reporting.
Trump's harsh public criticism of Powell, combined with the Department of Justice's criminal investigation into Powell for allegedly misleading Congress, has created an atmosphere of distrust surrounding any replacement selection before the nominee is even announced.
According to the Wall Street Journal, the eventual nominee will have to "walk a tightrope" during confirmation hearings, navigating hostile questioning from Trump critics and angry Republicans while remaining mindful that the volatile president will be hanging on every word uttered.
Backlash against Trump's Powell attacks—including from Republicans—has set the stage for unusually contentious proceedings.
Former Federal Reserve Chair Janet Yellen predicted complications: "Trump is making it very difficult by saying he refuses to appoint anyone who doesn't agree with him and is not going to do what he wants. So you start with that, which undermines a person's credibility."
According to Wall Street Journal reporters Nick Timiraos, Siobhan Hughes, and Josh Dawsey, two Republicans are leading scrutiny efforts. Senators Thom Tillis (R-NC) and Lisa Murkowski (R-AK) have indicated they will closely examine any nominee. Tillis told reporters, "I wouldn't consider my mother for the post under the current conditions, because we've got to resolve this matter."
White House economic adviser Kevin Hassett, frequently mentioned as a potential nominee, has already complicated his viability through comments about the Powell DOJ investigation. He stated, "It's part of government to have people look at you—inspectors general—and check that what you're doing is completely on the up and up."
His remarks prompted criticism from economists and analysts, with many characterizing the comments as inappropriate for a prospective Federal Reserve leader.
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