About a year ago, when Scotsman Guide first ranked the most likely candidates to succeed Jerome Powell as the next chair of the Federal Reserve, David Malpass was third on the list.
The former World Bank president and undersecretary of the Treasury had recently written an opinion piece in the June 13 edition of The Wall Street Journal that had caught the eye of the Trump administration. Malpass argued the Fed was “behind the curve on cutting interest rates,” claiming the central bank’s modeling systems are flawed because they “depend on slowing growth to avoid overheating the economy.”
Malpass eventually faded from consideration for the top Fed job, with early front-runner Kevin Warsh getting the nod from President Donald Trump. Warsh was f...