United States President Donald Trump said on Tuesday that he will announce his choice for a vacancy for a vacancy in the Federal Reserve board and possibly also his nomination for Chair of the Fed, but no longer considers the name of Treasury Secretary Scott Bessent as Bessent wants to remain in his current position.
In an interview with CNBCTrump called “pleasant surprise” the fact that director Adriana Kugler decided to leave her position now, instead of when her term end in January, a measure that seems to have accelerated Trump’s decision on who to name for a vacancy in the Fed board.
One possibility would be to promote the next director for the most important role of the US Central Bank when the Fed Chair term, Jerome Powell, ended in May 2026.
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“It will be one of four people,” said Trump, adding that he considers both economic advisor Kevin Hassett and former Fed Kevin Warsh director as “very good” possibilities.
He has not cited the names of the other two, but, according to information, is considering current director Christopher Waller, who has defended interest rate cuts, but not at the pace or extension that Trump wants.
“There are several qualified people,” said Trump. “I will announce this very soon,” said the president about the appointment of a replacement to Kugler.
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“Many people say, ‘When you do that, why don’t you choose the person who will command the Fed?’ This is also a possibility, ”said Trump.
Trump has criticized Powell for not cutting interest rates, even with the authorities, balancing evidence of economy slowdown and weakening the labor market with the fact that inflation remains well above the central bank’s target and is expected to increase.
Whoever Trump names Kugler’s place will need to be confirmed by the Senate, and that would be for a small term of just a few months, and would require another Senate vote for a full 14 -year term early next year.
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The indication for Chair would require a separate process of indication and confirmation by the Senate.
