File 029583
Email Chain About Federal Reserve Leadership Changes (File 029583)
Email correspondence between Steve Bannon and J dated December 22, 2018, discussing criticism of Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin, including commentary on Powell's qualifications and background.
Summary
An email chain from December 22, 2018, in which Steve Bannon and correspondent J discuss removing Federal Reserve Chair Jerome Powell and Treasury Secretary Steven Mnuchin from their positions. The chain includes detailed criticism of Powell's appointment as the first Fed chair without a Ph.D. in economics, his work history at Bankers Trust and involvement with derivatives losses, and mentions of other Trump administration officials including Mike Pompeo, Jared Kushner, and Ivanka Trump in the context of personnel decisions.
From: J [jeevacation@gmail.com]Sent: 12/22/2018 3:48:55 PMTo: Steve BannonSubject: Re: Trump has discussed firing Fed chief after latest interest rate hike: report I TheHillOne unusual thing about Powell's appointment is that he is a lawyer, not an economist. From Yellen going backto Alan Greenspan, who started as chair in 1987, all Fed chairs have held a Ph.D. in economics. Alan Blinder,an economist at Princeton, has said that a doctorate has become more or less a prerequisite of the job—withoutone, he told Harvard Business Review, "the Fed's staff will run technical rings around you." While that remainsto be seen, it is true that there are over 300 Ph.D. economists on the Fed's staff, and Powell could end upneeding to lean on their expertise more than a Fed chair with a doctorate in economics might.On Sat, Dec 22, 2018 at 10:40 AM Steve Bannon <__________________ wrote:Can u get rid of Powell or really get rid of mnuchinOn Dec 22, 2018, at 10:35 AM, J <jeevacation@gmail.com> wrote:getting rid of powell much more important than syria /mattis. . I guess pompeo , only one left. . unlessambassador heather has a brilliant idea. - a first. . jared and ivanka, need to go. !!!On Sat, Dec 22, 2018 at 10:31 AM Steve Bannon < > wrote:LMAOPerfect mnuchin hitOn Dec 22, 2018, at 9:22 AM, J <jeevacation@gmail.com> wrote:In 1993, Powell began working as a managing director for Bankers Trust, but he quit in 1995 after the bankgot into trouble when several customers suffered large losses due to derivatives. He then went back to workfor Dillon, Read &he didnt understand the markets 25 years ago. obama appointed him to the board, what else do you guys need to knowOn Sat, Dec 22, 2018 at 8:21 AM Steve Bannon <111> wrote:https://thehill.com/policy/finance/422577-trump-considering-firing-federal-reserve-chief-after-latest-interest-rate-hikeplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byHOUSE OVERSIGHT 029583return e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 029584