Trump to Announce New Fed Chair Soon, Replacing Powell
Donald Trump says he will soon reveal his pick to replace Jerome Powell as Federal Reserve Chair.
- Trump plans to replace current Fed Chair Jerome Powell
- Announcement expected “very soon”
- Market watchers eye the impact on interest rate policy
Trump Signals Imminent Fed Chair Decision
Former President Donald Trump has revealed that he will announce a new Federal Reserve Chair “very soon,” signaling a major shift in the U.S. economic leadership. The move would replace current Chair Jerome Powell, whose term has been a point of contention for Trump since his presidency.
This statement, made during a recent interview, has reignited speculation across financial markets about the future of U.S. monetary policy. Trump has long criticized Powell’s rate decisions, claiming they hindered economic growth during his administration.
Who Could Replace Jerome Powell?
While Trump did not name a successor, political insiders suggest he may choose someone more aligned with his economic views — particularly on keeping interest rates low to stimulate growth. Names like Judy Shelton, a known Fed skeptic and former Trump nominee, have resurfaced in discussions.
Powell’s term is set to expire in 2026, but a new administration could opt to replace him earlier, depending on legal and political circumstances. Trump’s early declaration hints at his desire to reshape the Fed’s approach to monetary policy should he return to the White House.
Impact on Markets and Monetary Policy
A potential change at the helm of the Federal Reserve could significantly influence market sentiment. Investors are closely monitoring developments, especially with inflation and interest rates still high on the economic agenda.
Replacing Powell could signal a shift toward looser monetary policy, which might be welcomed by Wall Street but viewed cautiously by inflation hawks. As the 2024 election approaches, Trump’s Fed pick will likely be a focal point for both political and financial observers.
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