James Fishback, a Trump supporter, is in talks with the President’s team about replacing Fed Governor Adriana Kugler. Fishback, of Azoria Capital, launched an anti-DEI ETF and believes the Fed should lower rates by 1 point. The SPXM ETF has gained $28.2 million in net inflows. If appointed, Fishback would deepen ties between Trump and the ETF industry. Fishback lost a lawsuit to open Fed meetings to the public. Bloomberg notes he would be the first ETF issuer on the Fed board. Fishback believes rates should be lowered despite inflation. Fishback’s firm aims to challenge diversity, equity, and inclusion targets.

Read more at Yahoo Finance: Anti-DEI ETF Issuer Floated for New Fed Governor