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Here’s an idea: what if Trump tried appointing an actual economist to lead the Federal Reserve?

It is far from certain whether Jerome Powell, Trump’s pick to succeed Janet Yellen, will rise to the occasion

By George Magnus  

Photo: Edelman Alex/CNP/ABACA/ABACA/PA Images

Would you appoint a sociologist to run a nuclear power station? Or an economist to the position of Lord Chief Justice? Clearly not, so, why has Donald Trump appointed a lawyer to run the Federal Reserve—the US and arguably the global—central bank, when Janet Yellen steps down next February? The choice matters because of America’s still commanding influence on global economic and financial affairs. Jerome, or Jay, Powell is not a bad choice…

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