Trump "New Fed chair to be announced early next year"

JH Kim

Summary

President Trump said he plans to nominate a new Fed chair early next year.
President Trump repeatedly emphasized the need for a benchmark interest rate cut, and it could affect market expectations for interest rate policy.
He indicated the timing for the next Fed chair nomination as early next year, suggesting that related uncertainty is likely to persist.

U.S. President Donald Trump said he plans to nominate a new Federal Reserve (Fed) chair early next year. President Trump again criticized current chair Jerome Powell and emphasized the need to cut the benchmark interest rate.

On the 2nd (local time), according to economic breaking news channel Walter Bloomberg, President Trump said, "I will nominate a new Fed chair early next year." President Trump publicly expressed dissatisfaction with Chair Powell regarding the Fed's policy direction.

In particular, President Trump repeated his stance that the benchmark interest rate should be lowered. He mentioned that Jamie Dimon, CEO of JPMorgan, also agrees on the need to cut rates to support the argument that the Fed should lower rates.

The remarks have again highlighted the possibility of a change in Fed leadership and could affect market expectations for monetary policy. However, since the timing for naming the next chair was presented as "early next year," there is a possibility that related remarks will continue until the appointment is finalized.