On July 2, according to foreign media, Federal Reserve Chairman Walsh is expanding his advisory team, with one of the latest appointments being Samantha Schwab, a senior assistant to Treasury Secretary Basant, who will join the Federal Reserve as an advisor. Schwab has served as Basant's deputy chief of staff at the Treasury since January 2025 and previously worked at the White House during Trump's first term. She also comes from a prominent financial family, being the granddaughter of Charles Schwab, founder of Charles Schwab Corporation. The specific start date for this appointment has yet to be determined. This appointment has sparked discussions about the closer relationship between the Federal Reserve and the Treasury, especially in the context of Walsh's weekly meetings with Basant, raising concerns in the market about whether the independence of the central bank will be affected.
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Walsh Appoints Schwab's Assistant as Federal Reserve Advisor
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