\n<\/p>\n
Donald Trump said he would \u201cshortly\u201d announce his pick for an open seat on the Federal Reserve\u2019s board of governors and possibly his nominee for Fed chair as well, but that he had removed the treasury secretary, Scott Bessent, from consideration since Bessent wants to remain in his current job.<\/p>\n
In a CNBC interview, Trump called it a \u201cpleasant surprise\u201d that the Fed governor Adriana Kugler had decided to leave her seat now instead of when her term ends in January, a move that appears to have accelerated Trump\u2019s decision on who to appoint to an open seat on the Fed board with possible plans to promote that person to the top policymaking role when the term of the Fed chair, Jerome Powell, ends in May.<\/p>\n
\u201cIt\u2019ll be one of four people,\u201d Trump said, adding that he considered both his current economic adviser Kevin Hassett and former Fed governor Kevin Warsh as \u201cvery good\u201d possibilities. He did not name the other two, but is reportedly considering current governor Christopher Waller, who has advocated rate cuts but not at the pace or extent Trump wants.<\/p>\n
\u201cThere are numerous people that are qualified,\u201d Trump said. \u201cI am going to be announcing that very shortly,\u201d the president said of naming a replacement for Kugler. \u201cA lot of people say, when you do that, why don\u2019t you just pick the person who is going to head up the Fed? That\u2019s a possibility too,\u201d Trump said.<\/p>\n
Trump has been critical of Powell for not cutting interest rates, even as Fed policymakers balance evidence of both a slowing economy and a weakening job market against the fact that inflation remains well above the central bank\u2019s 2% target and is expected to move higher.<\/p>\n
Whoever Trump names to Kugler\u2019s seat will need to be confirmed by the Senate, and it would be for a shortened term of only a few months, and require another Senate vote for a full 14-year term early next year. The nomination for chair of the Fed board would require a separate nomination and Senate confirmation process.<\/p>\n","protected":false},"excerpt":{"rendered":"
Donald Trump said he would \u201cshortly\u201d announce his pick for an open seat on the Federal Reserve\u2019s board of governors and possibly his nominee for Fed chair as well, but that he had removed the treasury secretary, Scott Bessent, from consideration since Bessent wants to remain in his current job. In a CNBC interview, Trump<\/p>\n","protected":false},"author":1,"featured_media":14227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[7885,2431,689,4226,4437,319,333,517,7884,3111,81],"class_list":{"0":"post-14226","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bessent","9":"tag-chair","10":"tag-chief","11":"tag-considered","12":"tag-fed","13":"tag-federal","14":"tag-longer","15":"tag-reserve","16":"tag-scott","17":"tag-treasury","18":"tag-trump"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/14226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14226"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/14226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/14227"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}