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Fortune

Jason Ma

The Fed just ‘Trump-proofed’ itself with a unanimous move to preempt a potential leadership shake-up

US Federal Reserve United States Donald Trump Stephen Miran

(Credit: Chip Somodevilla—Getty Images)

The Federal Reserve’s early reappointment of its regional bank presidents took markets by surprise and eased concerns the central bank would soon lose its independence as President Donald Trump continues demanding steeper rate cuts.

On Thursday, the Fed announced 11 out its 12 bank presidents were re-upped, leaving out the Atlanta Fed chief role as Raphael Bostic had announced previously that he’s stepping down.

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