Archive · 30 Jan 2026
Trump to Announce New Fed Chair
President Trump will announce his choice for the new Federal Reserve chair on Friday, 30 January 2026.
This person will replace Jerome Powell, whose term as chair ends in May 2026, but he can stay on the board until 2028.
Trump wants lower interest rates to help the economy, but Powell says rates should be set based on economic data, not politics.
The Fed recently kept interest rates steady at 3.50-3.75%, with most members agreeing but two wanting a small cut.
Trump has been critical of Powell, even pushing for a criminal investigation, but Powell has stood firm on the Fed's independence.
The new chair will be important for future economic decisions.
President Trump will announce his pick for the new Federal Reserve chair on Friday, 30 January 2026.
Jerome Powell's term as Fed chair ends in May 2026, but he can remain on the board until 2028.
The Fed recently kept interest rates steady at 3.50-3.75%, with 10 members voting for the hold and 2 for a cut.
Trump wants lower interest rates to support the economy, while Powell emphasizes data-driven monetary policy.
The announcement is significant as the Fed chair plays a crucial role in economic policy and interest rate decisions.
- Who
- US President Donald Trump and Federal Reserve Chair Jerome Powell
- What
- Announcement of new Federal Reserve chair and ongoing tension over interest rates
- When
- Friday, 30 January 2026
- Where
- United States
- Why
- To replace Jerome Powell as Fed chair and address economic policy differences
Trump's View
Powell's View
Interest Rates
Trump's View
Trump wants lower interest rates to boost the economy and support his tariff policies.
Powell's View
Powell insists that monetary policy should be guided by economic data and inflation risks, not political pressure.
Fed Independence
Trump's View
Trump has criticized the Fed's independence, suggesting it should align with his economic agenda.
Powell's View
Powell has defended the Fed's independence, emphasizing the importance of non-political monetary policy.
- Announcement Date
- Friday, 30 January 2026
- Current Fed Chair
- Jerome Powell
- Current Interest Rates
- 3.50-3.75%
- Powell's Term Ends
- May 2026
- Potential Candidates
- Kevin Hassett, Kevin Warsh, Christopher Waller, Rick Rieder
- FOMC Vote
- 10 for hold, 2 for cut
Sources
Fed holds rates steady, bucking Trump pressure
Dollar under pressure as investors remain jittery over U.S. policy
Trump to announce new Federal Reserve chair to replace Jerome Powell on Friday: Who is the frontrunner?
A weak dollar could spell trouble for Trump, and the next Fed chair
Powell exudes confidence about the economy. The Fed can wait to cut rates.
Why worries about American job losses are overstated
US Fed Chairman LIVE Updates: Donald Trump set to replace Jerome Powell — Who is next Federal Reserve Chairman?
