Tensions continue between US President Donald Trump and Speaker Jerome Powell over interest rates.
Powell prefers to act cautiously when it comes to tariff-related interest rate cuts, but Trump argues that inflation is in good condition and interest rate cuts should begin.
At this point, Trump, who has frequently called for Powell to resign, has already begun the new Fed Chairman’s job coming in 2026 when Powell’s term expires.
US Treasury Secretary Scott Bescent announced last week that Trump has begun discussions with potential candidates for the new Fed Chairman.
Everyone is eagerly waiting to see who the new Fed chair is, but Trump said he can make an announcement soon.
Speaking to CNBC, Donald Trump said he was negative about Powell’s re-appointment, saying:
“The next Fed chair will be one of four and I will be releasing it soon.
Chairman Powell is a very political figure. ”
At this point, Trump said several strong candidates for Fed Chairman are being considered, including Christopher Waller and Kevin Hassett.
Trump said he liked Treasury Secretary Scott Bescent, but the bescent wanted to stay in the Treasury department and said, “I asked him, ‘Do you want to be awarded?” He said, “No, I want to be with you.”
*This is not investment advice.