If Federal Reserve officials fail to cut interest rates as Donald Trump wants, the president may be ready to deploy a secret weapon — his own "shadow chair" — to help meet his objectives.
It would be an "unusual step," according to CNBC, but a "shadow chair" would be able to monitor current Chair Jerome Powell "until a permanent chief can be installed next year."
CNBC quoted Krishna Guha, head of global policy and central bank strategy, as saying, "There is 'fresh buzz' around the idea that Trump could announce his choice to succeed Powell soon, 'as a shadow Fed chair in the interim,'" until Powell's term ends....