The battle of Kevins

According to Namegeek.com, 0.64% of men in the US are named Kevin. It was a relatively common name in the 60’s and 70’s. Why is this relevant? Because President Trump announced yesterday that the next Federal Reserve Chairman will be “a” Kevin. In the chart below, you can see the odds of each contender for the Job and you can see there are two Kevin’s: Kevin Hassett, and Kevin Warsh. Mr Hassett will be appointed governor soon, and therefore become eligible for the job. Mr Warsh is not currently working at the Fed. The Federal Reserve Act specifies that the Chair is appointed by the President of the United States from among the members of the Board of Governors, but this refers to the appointment process at the time of selection, not a prerequisite of prior service as a governor. In practice, the Chair is typically a current governor at the time of appointment, but there’s no legal requirement that they must have served as a governor beforehand. The only requirements are: (1) to be a U.S. citizen, (2) being an expert in economics and (3) being confirmed by the U.S. Senate. The president wants rate cuts and will apply pressure from the inside until he gets them. The race for the Fed Chair is on.

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