Trump to Announce New Federal Reserve Nominee Soon
US - US President Trump said on Thursday that he will announce the nominee for the Federal Reserve Chair in "next week," a major decision that has attracted market attention. He said, "At some point next week ... we will announce the Federal Reserve Chair nominee."
Trump added, "I think this person will do an excellent job." He reiterated that current interest rates are "too high, unbearably high."
He also said he would announce the news with "Scott, Howard, and everyone," referring to Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick. For weeks, the president has repeatedly claimed he has made a choice and is about to announce it. The current Federal Reserve Chair Jerome Powell's term ends in May. Last month, Trump hinted that he was considering nominating his economic advisor Kevin Hassett as a Federal Reserve Governor, but then seemed to change his mind, explaining that he needed Hassett's expertise to defend his policies on television.
According to the Trump administration, in addition to Hassett, other candidates include former Federal Reserve Governor Kevin Warsh and current Federal Reserve Governor Christopher Waller, as well as Chief Investment Officer of the world's largest asset management company BlackRock, Rick Rieder.
The Federal Reserve decided to keep interest rates unchanged on Wednesday, following three consecutive meetings of rate cuts, and the new rate will last until the end of 2025. Subsequently, at a routine press conference, Jerome Powell stated that he "believed" the Federal Reserve would not lose its independence. He added, "I sincerely hope this does not happen."
Source: rfi
Original: toutiao.com/article/1855704018672650/
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