Fed Chairman Powell will be replaced within a year
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Two top contenders to replace Jerome Powell slammed the Fed chair for a $2.5 billion renovation of the central bank’s headquarters, with one saying the Trump administration is examining whether it can fire the policymaker and the other saying the Fed has 'lost its way.
WASHINGTON] US Treasury Secretary Scott Bessent suggested that Federal Reserve chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026. Read more at The Business Times.
The dollar fell and US Treasuries rallied after a report that President Donald Trump is considering naming Federal Reserve Chair Jerome Powell’s successor well before the incumbent’s term is scheduled to end next May.
Kevin Hassett, Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the U.S. econ
Kevin Hassett, one of President Donald Trump’s longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.
President Trump plans to name a successor to Jerome Powell, who ends his term as Fed chair in May 2026. Two contenders have emerged as the next US Fed chief after Powell.
Powell has led his colleagues in standing pat this year, saying they need more certainty that Trump’s tariffs won’t trigger a persistent rise in inflation.
US Treasury Secretary Scott Bessent suggested that Federal Reserve Chair Jerome Powell should step down from the central bank’s board when his term as chair is up in May 2026.
President Trump asked Republican lawmakers this week whether he should fire Federal Reserve Chair Jerome Powell, whom he appointed to the position in 2017. The move followed months of criticism by Trump of Powell,
Kevin Hassett, President Donald Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the US economy.
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