Trump Announces He Has Chosen His Fed Chair Candidate

Trump's Statements on Fed Chairmanship

U.S. President Donald Trump announced that a potential appointment for the Federal Reserve (Fed) chairmanship has been made. Trump claimed that he wanted to fire the current Fed Chairman Jerome Powell, but his advisors prevented him from doing so.

Appointment Process and Candidates

During a press conference in the Oval Office on Tuesday, Trump stated that he was considering an unnamed candidate: "I think I already made my choice. I'd like to fire the person currently in office immediately, but those around me are stopping me." The person responsible for this process, Secretary of the Treasury Scott Bessent, announced that the candidate list includes current Fed Governors Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh, White House National Economic Council Director Kevin Hassett, and BlackRock executive Rick Rieder.

Trump's Vision and Interest Rates

In addition to standard names, Trump mentioned a few surprise candidates as well. "Sometimes choosing the standard option may be politically correct," he said. Bessent plans to present his final recommendations to Trump after the Thanksgiving holiday. However, Trump did not give a clear signal about which candidate he would choose.

The new nominee will replace Jerome Powell, who Trump frequently criticizes. Powell's term as Fed chair will expire in May 2024, but his vice-presidential role will continue until 2028.