Trump will finalize the Federal Reserve board nominee before the weekend, with the next chair narrowed down to four favorites ⚠️⚠️⚠️
U.S. President Trump stated on Tuesday that he will decide on the Federal Reserve board vacancy nomination before this weekend, having narrowed down the candidates to succeed Federal Reserve Chair Powell to four individuals.
"I will make a decision before this weekend," Trump said regarding plans to replace Federal Reserve board member Adriana Kugler. Kugler unexpectedly announced last week that she would leave on Friday to return to teaching at Georgetown University.
Trump emphasized to reporters at the White House that choosing a successor to Kugler (whose term lasts only until January of next year) is a different process from selecting a replacement for Powell, who will step down in May next year. However, since other Federal Reserve board members, including Powell, have several years left in their terms, Trump's choice for Kugler's successor may influence his decision on the chair nominee.
Trump stated that the chair candidates have been narrowed down to economic advisor Kevin Hassett, former Federal Reserve board member and Trump supporter Kevin Warsh, and two others. Trump did not disclose the names of the other two, but speculation suggests one of them is current Federal Reserve board member Christopher Waller.
"We are also considering candidates for Federal Reserve Chair, and the range has now been narrowed down to four... two Kevins and two others," Trump said.
