Trump Says Next Fed Chair Will Back Significant Rate Cuts as He Interviews 3–4 Candidates
Experts warn that replacing Jerome Powell could weaken confidence in monetary policy, jeopardizing the Fed’s independence.
Overview
- Trump said from the White House that he will soon announce a Federal Reserve chair who supports large interest-rate reductions.
- He confirmed he is conducting interviews with three to four prospective candidates for the role.
- No formal nomination has been made, and Jerome Powell remains chair with a term that runs through May 2026.
- Trump has repeatedly criticized Powell for what he views as overly slow rate cuts and has floated the possibility of firing him.
- Analysts quoted in the coverage say removing Powell could damage trust in U.S. monetary policy and the central bank’s institutional independence.