US EditionTrump Sends a Message to Next Fed Chair, Says Deal ‘Close’ on Funding
Trump said a Federal Reserve chair nominee will be announced next week as government funding talks near completion to avoid a shutdown, emphasizing lower interest rates.
- At a Cabinet meeting Thursday, President Donald Trump said a government funding agreement was close and he could announce a Federal Reserve chair nominee as soon as next week.
- Amid Minneapolis fallout, White House aides pressed talks with senators on Capitol Hill to negotiate a revised multiagency funding package and avoid a second shutdown.
- Expectations for the nominee include immediate rate cuts, with Trump saying rates should be `2 points and even 3 points lower`, while analysts warn the Federal Reserve chair nominee faces credibility tests amid FOMC divisions.
- Immediate implications include funding risks and Senate hurdles as a failed deal would threaten disaster-response funding, while Senator Thom Tillis and Senator Elizabeth Warren oppose the nominee in the Senate confirmation process.
- Longer-Term, the choice matters for homeowners with houses worth $500,000 or $600,000 as Jerome Powell could remain a Fed governor until 2028, and the FOMC's 12 voting members face deepening divisions.
12 Articles
12 Articles
Watauga Democrat
What are the key challenges awaiting the new US Fed chair?
Federal Reserve chief Jerome Powell's successor could be named as soon as next week, President Donald Trump said Thursday, setting the stage for a major shift in the US central bank's leadership.
Trump to Name New Federal Reserve Chair Next Week
President Donald Trump said he will announce the new Federal Reserve chairman next week. “We’re going to be announcing the head of the Fed, who that will be, and it’ll be a person that will, I think, do a good job,” Trump said during his Jan. 29 Cabinet meeting. He also criticized Fed Chair Jerome Powell for not lowering interest rates enough. “We’re paying far too much interest. The Fed rates are too high—unacceptably high,” Trump added. “We sh…
U.S. Treasure Secretary Scott Bessent said this Thursday (28) that President Donald Trump made it clear that he intended to replace Jerome Powell in the Federal Reserve (Fed, the North American Central Bank) and that the successor should be announced next week. "I was talking to President Trup, on his return from Iowa last night, about what he is thinking and my intention is that we can hear something about Powell's replacement next week or abou…
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