🔥 President Donald Trump has revealed that he will soon announce a successor to Federal Reserve Chair Jerome Powell, even though Powell’s current term doesn’t end until May 2026.
At a press conference on June 6, 2025, Trump stated that the decision would be made “very soon.” He emphasized that a good Fed Chair is someone who “will lower interest rates,” reflecting his long-held view that monetary policy should be more accommodative.
When asked about Kevin Warsh — a former Fed Governor — Trump said, “He’s very highly regarded,” suggesting that Warsh is a leading contender for the role.
Although Trump has previously said he would not fire Powell before the end of his term, he has frequently criticized him for not cutting rates quickly enough. Recently, Trump publicly called on the Fed to cut interest rates by a full percentage point, accusing Powell of being “too slow to act.”
Announcing a successor early may be a strategic move to pressure the Fed into adjusting its monetary policy in a direction Trump prefers. However, it also raises concerns about the Fed’s independence and the potential influence of politics on key economic decisions.
