Trump plans to create a "shadow The Federal Reserve (FED) chairman"

robot
Abstract generation in progress

On June 26, The Wall Street Journal reported that Trump is increasingly frustrated with the Federal Reserve's (FED) stance of inaction on interest rate cuts, prompting him to consider announcing the next Federal Reserve Chairman candidate early. Currently, the term of the incumbent chairman Powell has 11 months left. According to insiders, Trump has been contemplating whether to select and announce Powell's successor this September or October. Trump's dissatisfaction with Powell may even push him to make this decision earlier this summer. Candidates Trump is considering include former Federal Reserve Board of Governors member Kevin Warsh and National Economic Council director Hassett. Additionally, Treasury Secretary Mnuchin has also been recommended as a potential candidate by supporters of both. Other possible nominees include former World Bank President Malpass and current Federal Reserve Board of Governors member Waller. Since the new Federal Reserve chairman will not officially take office until May next year, announcing a candidate this summer or fall would be far earlier than the usual three to four months transition period. This early announcement could allow the nominee to influence market expectations for future interest rate paths.

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)