Trump says Fed Chief must never ‘disagree’ with him
US President Donald Trump has stated that his next choice for Federal Reserve chairman must keep interest rates low and never “disagree” with him, raising concerns about the central bank’s independence.
Trump made the remarks Tuesday while reviewing candidates to replace outgoing Fed chief Jerome Powell, who had resisted Trump’s pressure to cut interest rates, News.Az reports, citing Al Jazeera.
“I want my new Fed Chairman to lower Interest Rates if the Market is doing well… Anybody that disagrees with me will never be the Fed Chairman!” Trump wrote on Truth Social.
Since returning to office in February, Trump has repeatedly urged the Fed to cut rates to boost economic growth, even calling Powell a “numbskull” and “major loser” for not following his directives.
The Fed has already reduced its benchmark rate three times this year to 3.5–3.75%, but Trump has suggested it should go as low as 1%. Economists warn that cutting rates too aggressively could risk inflation, even as GDP growth shows stronger-than-expected performance.
Top candidates for Powell’s replacement include Kevin Hassett, Kevin Warsh, and Christopher Waller. Analysts suggest Hassett may be favored due to his close working relationship with Trump and alignment with his economic views.
Similar news
