Sep 7, 2017

The choices for Fed chair

Kevin Warsh in London in 2014 (AP)

Possible nominees to top Fed posts, per the Wall Street Journal, "include former governors Lawrence Lindsey and Kevin Warsh, former BB&T Bank chief executive John Allison, and Stanford University economist John Taylor."

  • The front-page article is headlined "Cohn Now Seen as Unlikely Pick to Be Fed Chairman," which the Journal says is largely because of Cohn's public criticism of Trump's response to Charlottesville.
  • What's new: "Fed Vice Chairman Stanley Fischer said Wednesday he will resign in mid-October for personal reasons, adding another vacancy to the three others on the powerful seven-member Fed board of governors."
  • Why it matters: "His departure accelerates Mr. Trump's opportunity to put his stamp on the central bank."

Scenarios: "The White House has been considering nominating Marvin Goodfriend, a former research director at the Richmond Fed who is a professor at Carnegie Mellon University, to the Fed's board.""One possibility would be to nominate an incoming board member, such as Mr. Goodfriend, or a current board member, such as Fed governor Jerome Powell, to the vice-chair post."

Be smart: Since Cohn criticized Trump in a Financial Times article, White House insiders have been telling us the favorite for Fed chair is Kevin Warsh, an economic official in the George W. Bush White House, and member of the Fed board from 2006 until 2011.

Worthy of your time: Greg Ip column in Wall Street Journal, "Comfortably numb ... Why the U.S. Economy Shrugs Off Politics":"Federal default or nuclear war fall in the category of unprecedented and unthinkable. Faced with such risks, the usual reaction is to assume they won't happen. Yet that assumption becomes a risk in itself: It alleviates the pressure to prepare for either and multiplies the damage if they do occur."

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Bernie's juggernaut

Sen. Bernie Sanders speaks in San Antonio last night with his wife, Jane. Photo: Eric Gay/AP

Sen. Bernie Sanders won so big in the Nevada caucuses that Democrats are hard-pressed to sketch a way he's not their nominee.

Driving the news: With 60% of precincts counted (slow, but better than Iowa!), Sanders is running away with 46% of delegates — crushing Joe Biden's 20%, Pete Buttigieg's 15%, Sen. Elizabeth Warren's 10% and Sen. Amy Klobuchar's 5%.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Buttigieg campaign claims Nevada caucuses were "plagued with errors"

Photo: Win McNamee/Getty Images

Pete Buttigieg's campaign wrote a letter on Sunday asking the Nevada State Democratic Party to release early vote and in-person vote totals by precinct and address certain caucus errors identified by campaigns, The Nevada Independent reports.

The big picture: The campaign alleges that the process of integrating early votes on caucus day was “plagued with errors and inconsistencies,” and says it received more than 200 incident reports from precincts around the state.

Go deeperArrowUpdated 2 hours ago - Politics & Policy

Coronavirus threat grows, threatening some drug supplies

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

As the novel coronavirus continues spreading globally and China grapples with a limited production capability, there's a growing risk to about 150 prescription drugs in the U.S., sources tell Axios.

The big picture: The coronavirus has spread to more countries, with both South Korea and Italy stepping up emergency measures amid rising case numbers on Sunday. COVID-19 has killed at least 2,467 people and infected almost 79,000 others, mostly in mainland China.

Go deeperArrowUpdated 2 hours ago - Health