The White House says the next Federal Reserve Chair should be a pragmatist in response to criticism of Powell
On July 14, the Director of the White House National Economic Council, Hasset, stated that President Trump has been continuously criticizing the current Federal Reserve Chair, Powell, and that the next Federal Reserve leader should be someone pragmatic on interest rate issues.
Trump continues to strongly criticize the Federal Reserve Chair for slowing down the rate cuts. During the NATO summit, he again called Powell a "person of very average intelligence." Previously, Trump repeatedly mentioned the possibility of firing the Federal Reserve Chair. However, U.S. experts believe that from a legal perspective, it is almost impossible for Trump to fire an independent Federal Reserve Chair.
Hasset said on a CNBC television program: "The Federal Reserve Chair should be a pragmatic person who pursues dual objectives, which is the responsibility of the Federal Reserve. But during Biden's term, when inflation got out of control, the Federal Reserve failed to do so. I believe the next Federal Reserve Chair will not make the same mistake."
At the same time, American media have listed Hasset himself as one of the most likely candidates for the next Federal Reserve Chair after Powell's resignation in May 2026. Other potential candidates include former Federal Reserve Governor Kevin Warsh and U.S. Treasury Secretary Scott Bessent.
Original: https://www.toutiao.com/article/1837663193631754/
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