Trump May Nominate Mainstream Successor to Powell to Avoid Market Turmoil

On June 21, 2025, former U.S. Treasury Secretary Summers pointed out that Trump has frequently criticized Federal Reserve Chairman Powell for refusing to lower interest rates, attempting to shift the responsibility for a future economic recession onto the Federal Reserve. Summers predicts that despite Trump's pressure, he will ultimately nominate a respected mainstream figure to succeed Powell in order to avoid market turmoil.

What do you think about this?