Donald Trump poses for photographers on January 16, 2015 during a promotional tour for The Celebrity Apprentice television series hosted by him. Chris Pizzello / Invision / AP
Donald Trump poses for photographers on January 16, 2015 during a promotional tour for The Celebrity Apprentice television series hosted by him. Chris Pizzello / Invision / AP
Donald Trump poses for photographers on January 16, 2015 during a promotional tour for The Celebrity Apprentice television series hosted by him. Chris Pizzello / Invision / AP
Donald Trump poses for photographers on January 16, 2015 during a promotional tour for The Celebrity Apprentice television series hosted by him. Chris Pizzello / Invision / AP

You're hired! Shades of 'Apprentice' in Trump's hunt for next Fed chief


  • English
  • Arabic

The video opens with an establishing shot showing lighting rigs, microphones and aides clustered behind the scenes.

Then the picture cuts to our host, President Donald J Trump.

“People are anxiously awaiting my decision as to who the next head of the Fed will be,” he says. “I’ll be announcing it some time next week.

“It will be a person who hopefully will do a fantastic job.”

The video released on Friday is not so much a traditional presidential address as a trailer for Mr Trump’s latest reality show: The Apprentice — Federal Reserve edition.

After asking guests at his golf club for their take on his cabinet appointments and publicly listing the candidates for his supreme court nomination – before asking two finalists to travel to Washington for a prime-time reveal – Mr Trump is once again using skills from his television career as he prepares to announce one of the most significant appointments at his disposal.

Where previous administrations have sought to minimise speculation and frequently plumped for the incumbent to avoid disrupting markets, Mr Trump has tried to generate a sense of suspense as he decides who to pick as head of the Federal Reserve.

In recent weeks he has used interviews to float five names and hint at his favourites as he kept up a running commentary on progress.

The appointment could have huge implications for the US economy as it continues its upward progress after the great recession, and for the rest of the world.

The central bank’s role is to manage the world’s largest economy by adjusting interest rates: down to generate investment, growth and jobs, or up if it risks overheating.

The front runners are Jerome Powell, a Fed governor, and John Taylor, a Stanford economist who was critical of the bank’s role in creating the housing boom that triggered the 2007 collapse.

“Most people are saying it’s down to two — Mr Taylor and Mr Powell,” Mr Trump said in a recent interview with Fox Business Network.

“I also met with Janet Yellen, who I like a lot, I really like her a lot. So I have three people that I’m looking at, and there are a couple of others. I’d say I will make my decision very shortly."

Ms Yellen, whose first term as chairwoman ends in February, has been praised for her handling of the economy, not least by the president who has talked up rising markets and falling unemployment.

_______________

Read more:

US Fed chairman candidate Taylor a complex proposition
________________

Every chairman (and they were all men before Ms Yellen) since the Second World War has been renominated for a second term but Mr Trump has indicated he wants to shake things up.

Gary Cohn, Mr Trump’s chief economic adviser as director of the National Economic Council, and Kevin Warsh, a former Fed governor, complete the slate.

Last week the President tried to coax Republican senators into the debate. He asked for a show of hands in support of either Mr Taylor or Mr Powell, much to the disgust of some of those present.

“I don’t think that’s a very good way to pick a Fed chair, so I declined to participate,” said Bob Corker, the Tennessee senator who has been locked in a war of words with Mr Trump in recent weeks.

The candidates offer divergent views on how best to manage the US economy, presenting a stark choice between status quo and something more radical.

While Ms Yellen would offer continuity, conservatives are pushing for Mr Taylor. He cuts more of an outsider figure, arguing that the economy would grow faster with less Fed interference and pushing to phase out its recession stimulus package more rapidly.

However, some US media outlets are reporting that Mr Trump will plump for Mr Powell. He supports a more gradual reduction of the Fed’s efforts to stimulate growth. He has also voted in favour of all Fed decisions for the past five years, making him a second status quo candidate.

He does have one advantage over Ms Yellen as far as the president is concerned. He is a Republican.

Ever the showman, Mr Trump has managed to drop the issue into several of his recent TV appearances as he tries to generate interest.

Last week he canvassed the opinion of Lou Dobbs, a popular and populist Fox Business Network host, in the middle of a TV interview.

“Tell me who your preference is,” he said, pressing Mr Dobbs until he rather reluctantly plumped for Ms Yellen.

Mr Trump said he had been impressed by her performance but dropped a strong hint he was in favour of a change at the top.

"You like to make your own mark which is maybe one of the things she's got a little bit against her, but I think she is terrific," he said.

The suspense should end soon. The White House says Mr Trump will announce his decision before leaving on Friday for a 12-day trip to Asia that includes China, Vietnam, Japan, the Philippines and South Korea.

Bharat

Director: Ali Abbas Zafar

Starring: Salman Khan, Katrina Kaif, Sunil Grover

Rating: 2.5 out of 5 stars

UAE currency: the story behind the money in your pockets
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20HyveGeo%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Abdulaziz%20bin%20Redha%2C%20Dr%20Samsurin%20Welch%2C%20Eva%20Morales%20and%20Dr%20Harjit%20Singh%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ECambridge%20and%20Dubai%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%208%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ESustainability%20%26amp%3B%20Environment%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3E%24200%2C000%20plus%20undisclosed%20grant%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVenture%20capital%20and%20government%3C%2Fp%3E%0A
The biog

Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico​

PROFILE BOX:

Company/date started: 2015

Founder/CEO: Rami Salman, Rishav Jalan, Ayush Chordia

Based: Dubai, UAE

Sector: Technology, Sales, Voice, Artificial Intelligence

Size: (employees/revenue) 10/ 100,000 downloads

Stage: 1 ($800,000)

Investors: Eight first-round investors including, Beco Capital, 500 Startups, Dubai Silicon Oasis, Hala Fadel, Odin Financial Services, Dubai Angel Investors, Womena, Arzan VC

 

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

THE SPECS

Engine: Four-cylinder 2.5-litre

Transmission: Seven-speed auto

Power: 165hp

Torque: 241Nm

Price: Dh99,900 to Dh134,000

On sale: now

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

INFO

Everton 0

Arsenal 0

Man of the Match: Djibril Sidibe (Everton)

Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EMaly%20Tech%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Mo%20Ibrahim%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%20International%20Financial%20Centre%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20FinTech%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%3C%2Fstrong%3E%20%241.6%20million%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2015%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3EPre-seed%2C%20planning%20first%20seed%20round%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20GCC-based%20angel%20investors%3C%2Fp%3E%0A
CHELSEA'S NEXT FIVE GAMES

Mar 10: Norwich(A)

Mar 13: Newcastle(H)

Mar 16: Lille(A)

Mar 19: Middlesbrough(A)

Apr 2: Brentford(H)

Baby Driver

Director: Edgar Wright

Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James

Three and a half stars

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The biog

Job: Fitness entrepreneur, body-builder and trainer

Favourite superhero: Batman

Favourite quote: We must become the change we want to see, by Mahatma Gandhi.

Favourite car: Lamborghini

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Recycle Reuse Repurpose

New central waste facility on site at expo Dubai South area to  handle estimated 173 tonne of waste generated daily by millions of visitors

Recyclables such as plastic, paper, glass will be collected from bins on the expo site and taken to the new expo Central Waste Facility on site

Organic waste will be processed at the new onsite Central Waste Facility, treated and converted into compost to be re-used to green the expo area

Of 173 tonnes of waste daily, an estimated 39 per cent will be recyclables, 48 per cent  organic waste  and 13 per cent  general waste.

About 147 tonnes will be recycled and converted to new products at another existing facility in Ras Al Khor

Recycling at Ras Al Khor unit:

Plastic items to be converted to plastic bags and recycled

Paper pulp moulded products such as cup carriers, egg trays, seed pots, and food packaging trays

Glass waste into bowls, lights, candle holders, serving trays and coasters

Aim is for 85 per cent of waste from the site to be diverted from landfill 

The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Global Fungi Facts

• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil

UAE currency: the story behind the money in your pockets
What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
UAE currency: the story behind the money in your pockets