Behind the scenes of American politics, one of the most critical appointments is taking shape: President Donald Trump is reportedly searching for a new Chair of the Federal Reserve. Current Fed Chair Jerome Powell's term runs until May 2026, but a change may come much sooner.

🧑‍💼 Scott Bessent Among the Contenders? “I’ll Do What the President Wants”

Treasury Secretary Scott Bessent confirmed in an interview with Bloomberg that the Trump administration is already compiling a list of candidates to replace Powell. Although Bessent himself is considered a frontrunner, he downplayed his own ambition. “I have the best job in Washington, but I’ll take the role if the president wants me to,” he said.

According to Bessent, Trump is planning to announce Powell's successor as early as October — more than half a year before the term officially ends. Other names being floated include Kevin Hassett, Christopher Waller, and Kevin Warsh.

📉 Pressure Mounts on Fed Over Interest Rates

This potential shift comes amid growing criticism of Powell for what many see as a sluggish approach to cutting interest rates. Both Trump and Bessent have repeatedly urged the Fed to lower its benchmark rate by at least one percentage point, arguing that falling inflation makes current rates too restrictive.

Trump recently even sent Powell a handwritten note, citing lower interest rates in countries like Switzerland and Thailand. He called for immediate action — or suggested Powell should consider stepping down.

📊 Markets Expect Possible July Rate Cut

Political pressure is being reinforced by growing market expectations. According to CME FedWatch data, the chance that the Fed could lower interest rates at its July meeting has climbed to over 21%, even though Powell has so far taken a cautious stance.

Fed Governor Christopher Waller recently added fuel to the speculation, saying “a rate cut could come very soon,” boosting hopes among investors.



#FederalReserve , #Fed , #JeromePowell , #USPolitics , #Inflation

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