Renowned economist Claudia Sahm expressed concerns over a proposal by a Trump advisor to establish a “shadow Fed chair,” potentially undermining current Federal Reserve Chair Jerome Powell. What Happened: Sahm’s comment came in response to a post by Heather Long, an Economic columnist for The Washington Post, detailing a plan proposed by Scott Bessent, the founder of hedge fund Key Square Group and Trump advisor. According to Long, if Trump wins the upcoming election, he will nominate a new Fed chair in 2025, a year before Powell’s tenure ends in May 2026. The move is aimed at turning Powell i…
