Howard to blame for interest rate pressure wavering, analysts note
A key Federal Reserve official who played a central role in pushing the US federal debt down during the financial crisis is telling a Senate panel he wants to be allowed to return to the central bank before his term expires in mid-2020.
US Treasurer Jack Lew’s job is increasingly likely to be in jeopardy and he has been forced to defend his former boss who has been criticised for the failure of the global financial crisis.
US officials are demanding a three-quarter time deadline for Mr Lew’s return to Washington as his chief of staff, William Galston, seeks a Senate term extension ne강남안마xt year.
They are also seeking to extend Mr Lew’s term by six months and to get him back to Washington to testify before the Senate and debate the nation’s economic policy later in his term, something M우리 카지노r Lew says he wants.
His successor will be the president-elect Donald Trump, who on Sunday named Federal Reserve Chair Janet Yellen to head his central bank.
Both are likely to be replaced by Republican governors — who have been criticised by Republicans for pursuing policies of increasing government spending and taxing the middle class while the rich got richer.
“I am a big believer that the Fed has a role to play in driving growth,” Mr Lew told the Senate Banking Committee on Monday morning.
“I also believe that it’s important that I return to Washington, because I’m certain that my Senate term will be extended, 부천출장안마which will further weaken the Fed.”
While Mr Lew’s departure from central bank after nine years has sparked talk of a Trump presidency and could lead the Fed to take on a greater role in US economic policy, he said the decision had not come into his head.
“That’s an entirely different story. I don’t have that opinion,” he said.
When he stepped down last December, Mr Lew said his new role had to be “whole” to allow him to focus fully on the economy.
He said he had not yet decided how he would spend his remaining time.
He has been one of the bank’s loudest voices in the US debate about the role of the Federal Reserve after the financial crisis in 2008.
The former investment banker said during the crisis that the Fed needed to do more to “rebalance the economy and stop its downward spiral of debt”, which in turn caused the US to go through its worst financial collapse since World War II.
The Federal Reserve has been o