German Finance Minister Christian Lindner said said today that he and Federal Chancellor Olaf Scholz proposed Joachim Nagel as the new Bundesbank President. Nagel, a former Bundesbank board member, is expected to take over on January 1 from Jens Weidmann.
Linder said on twitter, “In view of inflation risks, the importance of a stability-oriented monetary policy is growing. He is an experienced personality who ensures the continuity of #Bundesbank”.
“Nagel can be trusted to continue the German Bundesbank tradition in the debates in the ECB,” Friedrich Heinemann, an expert at the ZEW economic research institute hailed. “He has extensive monetary policy and financial expertise, which is essential for today’s complex monetary policy decisions.”