Trump Reveals When He’ll Announce Next Fed Chair
Elizabeth Troutman Mitchell /
President Donald Trump said he will announce his appointee to chair the Federal Reserve Board of Governors next week.
“We’re going to be announcing the head of the Fed, who that will be, and it’ll be a person that will, I think, do a good job,” Trump said at Thursday’s Cabinet meeting.
“We’re paying far too much interest in the Fed,” Trump said. “The Fed rates are too high, unacceptably high. We should have the lowest.”
Trump said with the Fed’s help, “we could hit numbers that have never been hit before.”
On Wednesday, the Federal Reserve voted to keep interest rates steady for the first time since July.
Trump is reportedly choosing between current Fed Governor Chris Waller, former Fed Governor Kevin Warsh, BlackRock Chief Investment Officer of Global Fixed Income Rick Rieder, and National Economic Council Director Kevin Hassett.
Current Fed Chair Jerome Powell is serving until May, when his term expires. Powell is under investigation by Trump’s Justice Department for alleged false statements about renovations to the Federal Reserve building in Washington, D.C., that have increased in cost to $2.5 billion.