Exciting news is coming! The popular candidate for the next U.S. president, Trump, is about to take action against the Federal Reserve! Reports suggest that he is about to announce his list of candidates to replace the current Federal Reserve Chair, Powell. It's important to know that the Federal Reserve is the super institution that controls America's 'printing money' and 'collecting interest', and its every move affects the nerves of the global economy. Although Powell has done well in recent years, Trump had issues with him when he was in office, claiming that he raised interest rates too aggressively. Now that Trump is looking to 'return' to the White House, announcing his 'successor' in advance clearly sends a signal to the market: once I'm in power, the Federal Reserve will follow my lead! It seems the chair of the Federal Reserve is about to have a 'new occupant'.
What's even more amusing is that the report specifically mentioned: Trump this time did not arrange to chat with the world's richest man, 'tech mogul' Musk. Although Musk discusses economics and politics online every day, it seems that this time, regarding the significant matter of changing leadership at the Federal Reserve, Trump has no plans to consult him. It appears that, in deciding who controls the lifeblood of the American economy, Musk will also have to 'take a back seat' for now.
Now the whole world is listening, waiting to see who Trump will propose? Will it be a dove who advocates for 'easy money' to stimulate the economy, or some other tough character? This directly relates to the direction of the global market in the coming years and is definitely a heavyweight bomb that could trigger a 'major earthquake' in the financial market!
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