Nominee's Key Links:
Bio: https://www.linkedin.com/in/richard-a-werner-5359ba9/
Resume or CV: https://professorwerner.org/
Writing or Publications: https://rwerner.substack.com/
Website: https://professorwerner.org/
Video: https://www.youtube.com/@wernereconomics
Socials:
Agency or agencies for which nominator feels nominee is best suited:
Organization name(s) and position(s) for which nominator feels nominee is best suited:
Federal Reserve Chairman (preferably), Vice Chairman, or Governor
Policies which the nominator knows the nominee supports or in which they have expertise:
Here is why I believe he would be a perfect fit to be President Trump’s next Federal Reserve Chairman:
1. Part of “draining the swamp”
a. He’s not a DC figure, in fact he’s a UK citizen. However, central banking is an international field where expertise is leveraged globally.
b. If you watched any of the interviews I’ve sent (and I know you’re busy, so no worries if you haven’t), he was picked by Davos to be one of the young leaders of tomorrow, but has gone against them continuously for decades, even calling out then ECB President Jean Claude Trichet at a Davos conference.
2. President Trump’s promise of being anti-Central Bank Digital Currency (CBDC)
a. While President Trump can deliver a law saying no CBDC, central banks are agencies that can outlast any President with ease.
b. With Richard, he’ll announce day 1 that the Fed goes pencils down on any research involving climate policy and CBDCs (of which there are massive workstreams here currently), and ensure there is no Fed attendance in global conferences on CBDCs or central bank climate policy if desired.
3. President Trump’s promise of reforming a Fed to only promote a stable dollar, and not the dual mandate we have currently.
a. Richard has said publicly that that should be the sole focus of a central bank.
4. Financial Crisis expertise
a. He invented “Quantitative Easing” at the Bank of Japan in the late 80’s/early 90’s to deal with their Real Estate crisis, from which they’ve never recovered.
b. He knows and has discussed repeatedly the varying types of QE that can save a financial system, but not further enrich the rich and leave the middle class behind. That’s a massively important distinction.
c. He’s described repeatedly why the QE used in 2008 and 2020 were completely different, with very different effects, and that knowledge is critical.
d. Should a financial crisis not happen before President Trump returns to the White House, it’s highly likely one happens during his term as we deal with both inflation and crippling interest rates. President Trump will want Richard’s expertise when running into that wall.
5. Central Bank Independence
a. One thing all central bankers pride themselves on, conservative or liberal, is central bank independence. They make promises, get appointed, then go against the President because it actually makes them look weak if they don’t. You saw this conflict with President Trump and Chairman Powell regularly.
b. Richard has repeatedly talked about how central bank independence is inappropriate. In interviews he compares the best run and worst run central banks, both in Germany, the German Reichsbank which was completely independent and caused massive hyperinflation which led to Hitler, and the post-Nazi Bundesbank (pre-European Central Bank), which was accountable to elected officials and led Germany to be an economic powerhouse for the middle class, fueling community bank growth and productive lending to small businesses.
c. President Trump will know he will always have a guy that talks to him straight, but has a philosophical belief, that all bureaucrats need to follow their elected leader (in this case, President Trump).
d. That’s very unique in the central banking community because the media will publicly humiliate any Federal Reserve Chairman that is loyal to their elected official (even when it’s right to do so).
Nominator's thoughts on what would make this nominee a valuable member of a future Trump Unity Government
Professor Richard A. Werner, D.Phil. (Oxon), is an LSE and Oxford-educated economist, Professor of Banking and Finance at several universities, international investment strategist and finance expert.
Richard has over 30 years of professional experience in the financial sector. Having started as intern at Deutsche Bank in Munich, New York and Tokyo, he became the first Shimomura Fellow at the Development Bank of Japan in Tokyo in 1991, and was appointed chief economist of Jardine Fleming Securities (Asia) Ltd. in Tokyo in October 1993. In this role he became top-ranked Japan economist in the industry’s Greenwich survey and a top-3 economist in the Institutional Investor Survey. In 1995 he proposed a new policy to end banking crises which he called ‘Quantitative Easing’. His book ‘Princes of the Yen’, on central banking, was a top bestseller in Japan in 2001. The 2003 English edition warned of the coming credit bubbles, banking crises and recessions. His 2005 book ‘New Paradigm in Macroeconomics’ (Palgrave Macmillan) presents reality-based economics. Some of his academic research is among the most downloaded scientific work in the world (see www.professorwerner.org).
In 1998, Richard established an investment advisory firm servicing top institutional investors, including Commerzbank, Dresdner Kleinwort Wasserstein, Soros Fund Management, State of New Jersey Pension Fund, State of Texas Pension Fund, and many others. He was Senior Consultant to the Asian Development Bank from 1998 to 2003, on behalf of which Richard formally advised the Thai government concerning the banking and economic crisis in Thailand. He was member of several Ministry of Finance advisory panels in Japan and advisor to the LDP’s central bank law reform group. From 2000 to 2003, Richard became member of the Asset Allocation Committee of TelWel, a $6.2bn corporate pension fund belonging to the Nippon Telephone and Telegraph communications group.
In 2006, Richard was appointed Senior Managing Director and Senior Portfolio Manager at Bear Stearns Asset Management Ltd., founding and managing the Bear Stearns Global Alpha Fund in London – the firm’s first hedge fund established outside the US. Richard remains an FCA-approved person, both as CEO of a regulated and authorised asset management firm and as discretionary portfolio manager and investment advisor.
For over a decade Richard was an active member of the ECB Shadow Council, and since 2010 has been involved in the planning and establishment of community banks in the UK. From 2015 to 2018, Richard was the deputy head of Corporate Lending at VR Bank Landau, Germany. During this time he also acted as board director of an London Stock Exchange-listed international corporation and served as the chairman of its audit committee.
Richard has proven to be a man of great integrity, putting principles and loyalty before his own personal goals. His rich blend of expertise in the private sector, central banking, and academia is second to none. The Federal Reserve Board are constantly under attack from their peers on Wall Street, in academia, and at other agencies. Richards firm belief is that elected officials, primarily the President, should have influence on government agencies, not outside voices.
You wont find a better pick for Federal Reserve Chairman.