A shadow Fed chief could lead to a ‘revolt’ on the FOMC against Powell’s successor, former vice chair warns

• Former Federal Reserve Vice Chair Alan Blinder said naming a so-called shadow Fed chief well before Jerome Powell’s term is up would sow confusion in financial markets and even set up a potential revolt against the eventual chair. Wall Street analysts also it is a self-defeating idea that would sink the U.S. dollar and Treasury bonds.

Naming a so-called shadow chair for the Federal Reserve well before Jerome Powell is due to step down as the top central banker could blow up spectacularly.