美联储提前确认“11名地方联储主席连任”，保住“最大鹰派声音”

Core Viewpoint - The Federal Reserve has completed the voting for the reappointment of local Federal Reserve presidents ahead of schedule, alleviating concerns about potential political interference and ensuring the continuation of a hawkish stance within the Fed system [1][3]. Group 1: Hawkish Stance - The local Federal Reserve presidents represent the core hawkish force in the Fed's monetary policy-making. In a recent rate cut decision, two local Fed presidents voted against lowering the interest rate by 25 basis points to the range of 3.5%-3.75% [2]. - Four other officials indicated through the dot plot that they prefer maintaining borrowing costs at the previously set range of 3.75%-4% [2]. - This hawkish position contrasts sharply with calls from Trump and his economic advisors for significant rate cuts, as local Fed presidents continue to warn about the risks of rising inflation [2]. Group 2: Political Concerns - The early completion of the reappointment voting is viewed as a preventive measure against potential political interference, particularly in light of Trump's adversarial stance towards the Fed [3]. - The voting received unanimous support from the board, including Trump allies, which highlights the reduced direct political influence in the appointment process of local Fed presidents compared to board members who require presidential nomination and Senate confirmation [3]. Group 3: Reform Pressures - Despite the successful reappointment voting, local Fed presidents face ongoing reform pressures from the Trump administration. Treasury Secretary Yellen has been a vocal critic of the powers held by local Fed presidents [4]. - Yellen suggested that the government would push for reforms requiring all new local Fed presidents to reside in their service areas for three years prior to taking office, which could impact the pool of candidates for future appointments [4]. - The decision-making structure of the Fed includes 12 local Fed presidents participating in FOMC meetings, with only the New York Fed president holding permanent voting rights, while the others rotate annually [4].