PiCK

Trump "Next Fed chair could be announced in January"…also hints at possibility of firing Powell

Suehyeon Lee

Summary

President Trump said he mentioned the timing for replacing the Federal Reserve (Fed) chair would be January next year.
He directly mentioned the possibility of dismissing Chairman Powell, saying uncertainty about current monetary policy has increased.
He said that with the expected selection announcement in early next year, discussions about the Fed's policy continuity and independence are expected to continue.

President Donald Trump raised uncertainty over the whereabouts of current Federal Reserve (Fed) Chair Jerome Powell by mentioning that the timing for replacing the Fed chair could be in January next year.

On the 30th (local time), according to Walter Bloomberg, President Trump said he would "probably announce the selection of Powell's successor in January." He also said he "still leaves open the possibility of dismissing Chairman Powell."

Trump continued to levy strong criticism against Chairman Powell. He described Powell as "fool(fool)" and expressed dissatisfaction with his monetary policy judgments.

President Trump has repeatedly publicly criticized the Fed's interest rate policy. In particular, as the expected selection announcement in early next year approaches, discussions about the Fed's policy continuity and independence are expected to continue.