One official has said that, with at least three vacancies expected on the U.S. Federal Reserve's Board of Governors this year, the central bank may not be exempt from a shakeup instigated by President Donald Trump.
MarkGrant, who accurately predicted the Brexit vote and Donald Trump's victory, said the president and Treasury Secretary nominee Steven Mnuchin will take advantage of filling key vacancies on the Fed board to further their agenda.
Grant spoke a day ahead of Fed Chair Janet's Yellen's semiannual monetary report to the Senate. The Fed has said it expects to raise interest rates three more times this year.
Removing academics from the Fed's board remains a point of contention, but Grant has also said the Trump administration is likely to do so with the economic landscape and policy goals in mind. He has characterized as "baloney" the prospect of three more rate hikes this year.
One other commentator said the culture of the central bank must change in order to effectively reconcile White House policy with the Fed's monetary agenda.
