Trump Sets Deadline: Fed Chair to be Announced "Next Week"
US President Donald Trump said he would announce his choice to lead the Federal Reserve "next week." In a Cabinet meeting on Thursday (January 29), Trump also reiterated his expectations: the new Fed chair must be able to lower interest rates.
This statement came a day after the Fed held interest rates steady—a move the market viewed as a "pause" after a series of previous cuts. For Trump, the decision has drawn criticism: he believes the US's interest costs are too high and that interest rates should be much lower.
Names frequently mentioned on Trump's radar include NEC Director Kevin Hassett, Fed Governor Christopher Waller, former governor Kevin Warsh, and BlackRock executive Rick Rieder. The selection process is reportedly being monitored by Treasury Secretary Scott Bessent.
However, the path to the Fed's top seat could be bumpy. In the Senate, there are signs that some senators could block the confirmation—especially amid political scrutiny of the central bank, including an investigation into the Fed's resurfacing headquarters renovation project.
Source: Newsmaker.id