#USFedNewChair US President Donald Trump is considering replacing Federal Reserve Chair Jerome Powell, whose term ends in May 2026.
Trump has expressed dissatisfaction with Powell's leadership, particularly regarding interest rate policy.
*Potential Candidates:*
Kevin Warsh : Former Fed Governor and a strong contender for the position. Warsh served on the Fed's Board of Governors from 2006 to 2011 and has been critical of the Fed's monetary policy approach.
Kevin Hassett : National Economic Council Director and another potential candidate mentioned by Trump. Trump described both Warsh and Hassett as "very good" options.
Reasons Behind the Potential Change:
Trump's frustration with Powell's decision to hold interest rates steady despite the President's repeated calls for rate cuts.
The resignation of Federal Reserve Governor Adriana Kugler gives Trump an opportunity to shape the Fed's policy direction.
Trump has hinted that his nominee for Kugler's post could potentially succeed Powell as Fed Chair.
Current Developments:- Two sitting Fed governors, Christopher Waller and Michelle Bowman, have broken with Powell on interest rate policy, advocating for rate cuts.