President Donald Trump indicated he would announce his pick for Fed chair on Friday, saying an announcement would come next week. It comes amid an ongoing conflict between Trump and his predecessor, Jerome Powell, over interest rate cuts.
President Donald Trump has indicated he will pick his Fed chair tomorrow, and the odds have grown in favor of Kevin Warsh. (X/@PolymarketMoney, X/@coinbureau)”I’m going to announce, I think, a really great choice tomorrow,” Trump said during the premiere of Melania, a documentary on first lady Melania Trump.
Although Trump’s pick is not yet known, Kevin Warsh is considered the front-runner. CNN’s Caitlan Collins reported that Warsaw was seen at the White House on Thursday, a day before the announcement. Trump’s short list includes National Economic Council Director Kevin Hassett, Fed Governor Christopher Waller, former Governor Kevin Warsh and BlackRock Inc. executive Rick Ryder.
Also Read | Why did the DOJ initiate a criminal investigation against Jerome Powell? Read the Fed Chair’s full statementWhile Trump has not officially announced his choice, he has dropped hints, according to a report by News Nation’s White House correspondent Kelly Meyer. “I would say he’s an outstanding person. And a person that won’t be too surprising to people,” Trump said of his choice.
POTUS added, “A lot of people think this guy could have been there a few years ago. It’s going to be someone that’s very well-respected. Someone that’s known to everybody in the financial world. I think it’s going to be a very good choice. I hope so.”
Kevin Warsh’s response is likely to be the Fed Chair Although Trump has yet to officially announce, experts have already weighed in on what they think Warsaw will be the next Fed chair.
Economist Joseph Brusulas wrote in X “My assessment of Kevin Warsh is from reading his public statements, speeches, and Fed central bank transcripts. Acceptance: His first instinct is to be hawkish and rarely saw a potential rate hike he didn’t like. Red flags: He got policy responses he didn’t understand after the Great Fintrees nature. Depression levels and effects like shocks.”
