Opinion: Trump Worried New Fed Chair May Stab Him in the Back, No Longer Under His Thumb After Taking Office

January 22nd — Wall Street Journal reporter Nick Timiraos, dubbed the “Fed Whisperer,” reported that during a Davos speech, former President Donald Trump laid out his views on the Federal Reserve chairmanship and voiced a core concern about potential nominees: They tell him what he wants to hear in interviews, but revert to their true selves once in office. Trump’s remarks, per Timiraos: “I’ll soon announce my nominee for Fed chair. Everyone I’ve interviewed is excellent — but here’s the problem: They change once in office. They tell me what I want to hear, then after taking their six-year term, they suddenly say, ‘Let’s raise rates a bit.’ I call them, and it’s, ‘Sir, we don’t want to talk about this.’ It’s amazing how much someone can change once they have the job. It’s somewhat disloyal, very unfortunate, but they do what they think is right. “Our current chair is a disaster: Jerome ‘Late’ Powell. He’s always slow — especially on interest rates, he’s particularly dull. But he was pretty good for the other side before the election. So we’re about to have an outstanding nominee; hope he’s up to the task.”