Trump reveals name of person chosen to lead Fed

US President Donald Trump said he will soon announce the next chairman of the US Federal Reserve (Fed), and revealed that he currently highly rates candidate Kevin Warsh.

Former Fed Governor Kevin Warsh (right) and Ms. Mary Daly - President of the Federal Reserve Bank of San Francisco in a group photo in May 2025 - Photo: REUTERS

Speaking to reporters on Air Force One over the weekend, President Trump said he would make a decision "soon."

Asked about former Fed Governor Kevin Warsh, Mr Trump said Warsh was "very highly regarded" and was a leading candidate to be the next Fed chairman.

Earlier in the day, the 47th White House boss called on the Fed to cut interest rates by another 1 percentage point after complaining that current Fed Chairman Jerome Powell was reacting too slowly to support growth.

Since taking office for his second term, President Trump has repeatedly attacked Mr. Powell for being slow to lower interest rates. However, the Fed Chairman stated that all decisions are made based solely on economic data, and are not subject to any political influence or pressure.

Mr. Powell was appointed by President Trump during his first term and then reappointed under President Joe Biden.

On May 29, Mr. Powell had his first direct meeting and work with President Trump at the White House since Mr. Trump took office in January.

After the meeting, White House press secretary Karoline Leavitt said President Trump believes the Fed's failure to lower interest rates puts the US economy at a disadvantage compared to China and some other countries.

Under the current structure, the Fed chairman and six other governors are nominated by the president and confirmed by the Senate. Mr. Powell’s current term ends in May 2026 and President Trump could appoint a successor in the coming months.

For his part, Mr. Powell has stated that his dismissal, if it happens, would not be in accordance with current law.

VNA

Source: https://tuoitre.vn/ong-trump-reveals-the-name-of-the-person-who-was-chosen-to-be-the-leader-of-the-fed-20250608190343335.htm