#FedGovernorVacancy Trump Says He Will Announce New Fed Chair 'Very Soon' — What It Means for Markets and Crypto

President Donald Trump has indicated that the next Federal Reserve chair will be revealed very soon, adding that his preferred candidate is highly respected and aligns with his push for lower interest rates. Governor Adriana Kugler** is set to resign on August 8, opening a new seat on the FOMC that Trump could fill with a candidate who supports interest rate cuts. Contenders?

Among the top names being discussed: - *Kevin Warsh, former Fed governor — described by Trump as “highly regarded”. Secretary and former investment advisor, also emerged as a possible choice along with Christopher Waller and Kevin Hassett also in consideration, especially given Trump’s recent appointments of officials aligned with his policies.

Impact on Interest Rates

Trump has criticized current chair Jerome Powell for not cutting interest rates quickly enough, calling it a “disaster” and demanding a full one percentage point cut in the benchmark interest rate. Announcing a successor earlier—well before Powell’s term ends in May 2026—could shake confidence in the independence of the Federal Reserve. Economists warn that markets may react nervously to what appears to be political pressure on monetary policy. Political instability and U.S. institutional factors (e.g., firing the BLS chief, Kugler’s resignation) have contributed to dollar and Treasuries volatility, with markets pricing in a ~90% chance of an interest rate cut in September and historically looser liquidity benefiting risk assets such as Bitcoin and Ethereum, which thrive in a yield-seeking environment. -Earn Post