\n<\/p>\n
Donald Trump declared he \u201cshould be listened to\u201d by the Federal Reserve, as he weighs candidates to lead the central bank amid an extraordinary campaign by the White House to exert greater control over its decisions.<\/p>\n
The US president said on Friday that former Fed governor Kevin Warsh is currently top of his list to chair the central bank.<\/p>\n
Jerome Powell, the current Fed chairperson, is scheduled to finish an eight-year stint in the role next May. He has repeatedly defied Trump\u2019s demands for drastic cuts to interest rates, prompting the president to launch a string of public attacks.<\/p>\n
Trump is also considering his adviser Kevin Hassett, who leads the National Economic Council, as a potential chair of the Fed.<\/p>\n
\u201cI think you have Kevin and Kevin. They\u2019re both \u2013 I think the two Kevins are great,\u201d the president told the Wall Street Journal on Friday. \u201cI think there are a couple of other people that are great.\u201d<\/p>\n
He is expected to soon nominate a candidate to lead the Fed, having lambasted the central bank\u2019s policymakers for their cautious approach to cutting rates since return to office in January \u2013 and has even tried to fire a member of the central bank\u2019s rate-setting policy committee.<\/p>\n
Warsh \u201cthinks you have to lower interest rates,\u201d Trump claimed in the interview, in line with the views he has expressed himself for months. \u201cAnd so does everybody else that I\u2019ve talked to.\u201d<\/p>\n
Trump argued that the next Fed chair should listen to him on the future direction of rates. \u201cTypically, that\u2019s not done anymore,\u201d he acknowledged to the Wall Street Journal. \u201cIt should be done.\u201d<\/p>\n
\u201cIt doesn\u2019t mean \u2013 I don\u2019t think he should do exactly what we say,\u201d Trump added. \u201cBut certainly we\u2019re \u2013 I\u2019m a smart voice and should be listened to.\u201d<\/p>\n
Earlier this week, the Fed cut rates by a quarter point for the third time this year. But policymakers signaled their reluctance to cut more than once next year, amid heightened uncertainty around the direction of the economy.<\/p>\n
In a press conference on Wednesday, Powell said the Fed was trying to balance \u201csignificant downside risks\u201d in the jobs market with inflationary pressures from Trump\u2019s tariffs that are \u201cpretty clear to see\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Donald Trump declared he \u201cshould be listened to\u201d by the Federal Reserve, as he weighs candidates to lead the central bank amid an extraordinary campaign by the White House to exert greater control over its decisions. The US president said on Friday that former Fed governor Kevin Warsh is currently top of his list to<\/p>\n","protected":false},"author":1,"featured_media":37159,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[1751,4437,319,135,5651,8283,517,646,81,8229],"class_list":{"0":"post-37158","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-demands","9":"tag-fed","10":"tag-federal","11":"tag-leader","12":"tag-lines","13":"tag-listen","14":"tag-reserve","15":"tag-smart","16":"tag-trump","17":"tag-voice"},"_links":{"self":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/37158","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=37158"}],"version-history":[{"count":0,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/posts\/37158\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=\/wp\/v2\/media\/37159"}],"wp:attachment":[{"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/naijaglobalnews.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}