According to White House economic advisor on NBC’s Meet the Press Sunday, President Trump is actively searching for a new Federal Reserve Chair. They are “going through a list of names.”
President Trump could make his decision on the next chair when he fills a seat on the Federal Reserve Board of Governors that Adriana Kugler announced she’s vacating early.
The president told reporters he has about three candidates in mind for the board seat. He may want to fill Ms. Kugler’s seat with a person whom he could later appoint as chair.
Chairman Powell’s term as Fed chair ends in May, but his board term does not end until Jan. 31, 2028.
President Trump is stuck with him for a while.
Trump called Powell “stubborn,” among other names, because he won’t lower interest rates. Europe lowered rates eleven times so far.
The Fed has the responsibility of stabilizing prices and maximizing employment. Powell says he wants to see how the tariffs affect inflation if at all.
Trump wants the board to act against Powell. The Fed is filled with left-wing academics so who knows what goes on at the Fed.
If Powell doesn’t “substantially” lower rates, Trump said, “THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!”
Two of the seven Fed governors, Christopher Waller and Michelle Bowman, issued statements Friday saying they see the tariffs as having a one-time impact on prices and the job market as likely softening. As a result, the two dissented at the Fed meeting on Wednesday and pushed for slight rate cuts relative to what Trump was seeking.
The higher interest rates are coming from the taxpayer’s pockets. The inflation is running at 2.6%, down from 2.7% the month before. The Fed target is 2%, which they did not follow when Biden was president.
Facts came via RINO paper, The Washington Times, double checked by Sentinel.
This guy does NOT even have a degree in economics. He majored in Political Science. What the hell???