WASHINGTON: President Donald Trump said on Thursday he intends to announce his pick to replace Federal Reserve Chair Jerome Powell on Friday, with speculation intensifying that the nod will go to former Fed Governor Kevin Warsh.<\/p>\n
\u201cI\u2019ll be announcing the Fed chair tomorrow morning,\u201d Trump said at the Kennedy Center on Thursday, in response to a question.<\/p>\n
The pick is \u201ca person that won\u2019t be too surprising to people. A lot of people think that this is somebody that could have been there a few years ago. It\u2019s going to be somebody that is very respected, somebody that\u2019s known to everybody in the financial world.\u201d<\/p>\n
Bloomberg News later reported that the White House is preparing for Trump to nominate Warsh, citing people familiar with the matter.<\/p>\n
Warsh went to the White House for a meeting with Trump on Thursday, according to one source familiar with the matter.<\/p>\n
A second source, briefed on the \u200cdiscussion, said the former Fed \u200cgovernor impressed Trump, adding that nothing was final until Trump announced his pick.<\/p>\n
Trump wants \u200cthe \u2060Fed to cut \u200cinterest rates deeply. His escalating pressure on Powell and the Fed for cuts has given rise to the possibility that Powell might remain at the Fed beyond May to try to safeguard the Fed from further political pressure. Powell\u2019s separate term as a member of the Board of Governors runs to 2028.<\/p>\n
The Fed, which cut rates three times in 2025, left its benchmark interest rate unchanged in the 3.50 percent-3.75 percent range after the end of a two-day policy meeting on Wednesday. Trump says the rate should be two to three percentage points lower, a level historically consistent with a stalled or faltering economy. The economy grew at a 4.4 percent annualized rate in the third quarter, according to Commerce Department data. Over \u2060the course of the Trump administration\u2019s months-long search for Powell\u2019s successor, the president has been seen to favor different candidates, even as he has ramped up his campaign to exert \u200cinfluence over the Fed, whose independence from political pressure is seen as key \u200dto its ability to control inflation. In recent months Trump has \u200dtried to fire a Fed governor in a case now before the Supreme Court, and his Justice Department has opened a \u200dcriminal investigation into Powell over cost overruns for renovations at the Fed\u2019s headquarters in Washington \u2014 a move the Fed chief has called out as a \u201cpretext\u201d to pressure him over monetary policy.<\/p>\n","protected":false},"excerpt":{"rendered":"
WASHINGTON: President Donald Trump said on Thursday he intends to announce his pick to replace Federal Reserve Chair Jerome Powell on Friday, with speculation intensifying that the nod will go to former Fed Governor Kevin Warsh. \u201cI\u2019ll be announcing the Fed chair tomorrow morning,\u201d Trump said at the Kennedy Center on Thursday, in response to …<\/p>\n","protected":false},"author":4,"featured_media":92996,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-92984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/92984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=92984"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/92984\/revisions"}],"predecessor-version":[{"id":92997,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/92984\/revisions\/92997"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/92996"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=92984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=92984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=92984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}