Trump to Decide New Federal Reserve Governor This Week, Possibly Successor to Powell

According to Hase Chain news, U.S. President Donald Trump stated that he will decide this week who will succeed outgoing Federal Reserve Governor Adriana Kugler. The Federal Reserve announced last Friday that Kugler will resign from her position before her term ends in January next year. This provides Trump with an earlier-than-expected opportunity to appoint someone more aligned with his interest rate cut stance to the Federal Reserve Board. At the same time, Trump has been repeatedly pressuring the Federal Reserve and its Chairman Jerome Powell to lower borrowing costs. Regardless of whom Trump chooses as the new Federal Reserve Governor, this person could potentially become one of the successors to Powell when his chairmanship term expires in May, and may meet the expectations of the Trump administration regarding interest rate policy formulation.