One of President Trump’s nominees for the Federal Reserve could be in trouble.
Marvin Goodfriend, an economics professor at Carnegie Mellon, barely cleared the Senate Banking Committee on Thursday, 13 to 12.
At his confirmation hearing last month, Democrats questioned Goodfriend’s economic predictions.
In particular, he was criticized for urging the Fed to raise interest rates quickly after the financial crisis, and for suggesting in 2012 that inflation could become dangerously high if the unemployment rate fell below 7%. That never happened.
“The....More>>>