Erdogan taps ex-NY Fed official as Turkey's deputy Central Bank head
In a major reshuffle, the Turkish president has dismissed all three deputy Central Bank governors as his government ramps up efforts to regain the confidence of Western investors.
ANKARA — Turkish President Recep Tayyip Erdogan tapped on Friday Fatih Karahan, a former official of Federal Reserve Bank of New York, as one of three new deputy Central Bank governors.
The news comes as the Turkish government scrambles to gain the trust of foreign investors.
Fatih Karahan, who got his PhD in economics from the University of Pennsylvania, served as an economic research advisor at New York Fed, according to his bio at the Bank’s website. Before joining the New York Fed, he also worked at Amazon as a principal economist, his Linkedin profile shows.
As part of the government’s major U-turn from unorthodox economic policies to conventional ones, Erdogan replaced all three deputy Central Bank governors. Mustafa Duman, Emrah Sener and Taha Cakmak were replaced by Hatice Karahan, Cevdet Akcay and Fatih Karahan.
