"Fatih Karahan Named Turkey's New Central Bank Chief After Resignation"

Fatih Karahan has been appointed as the new head of Turkey's central bank following the resignation of Hafize Gaye Erkan, who cited a media scandal as part of her reason for stepping down. Karahan, a former senior economist at Amazon, is expected to continue the economic program that has been successful in cooling inflation expectations. Erkan, the first woman to lead the bank, had implemented a significant pivot in monetary policy by raising interest rates, which had helped stabilize the economy. Erdogan and other officials have expressed support for the economic team and program, despite the recent leadership change at the central bank.