On June 26, according to the Wall Street Journal, Trump has become increasingly dissatisfied with the Federal Reserve's stance of holding steady on interest rate cuts, which has prompted him to consider announcing the next Fed chair's nominee in advance. Currently, the current chair Powell has 11 months left in his term. According to informed sources, in recent weeks, Trump has been considering selecting and announcing Powell's successor as early as September or October this year. Trump's dissatisfaction with Powell might even push him to make this decision earlier in the summer. The candidates Trump is considering include former Fed Governor Kevin Walsh and National Economic Council Director Hassett.
Additionally, Treasury Secretary Bezos has also been recommended by supporters of both as a potential candidate. Other possible nominees include former World Bank President Malpass and current Fed Governor Waller. Since the new Fed chair will not officially take office until May next year, announcing the nominee in the summer or fall would be much earlier than the usual three to four-month transition period. This early announcement could allow the nominee to influence market expectations about future interest rate paths. (Jintian)
