Archive · 28 Jun 2025
Trump Wants Fed Chair Pick to Support Rate Cuts
Former President Trump wants to pick a new leader for the Federal Reserve, the group that sets interest rates.
He wants someone who will lower rates, because he thinks they are too high right now.
He is unhappy with Jerome Powell, the current leader, and would like him to leave.
Trump wants interest rates much lower.
Some possible choices for the job include people like Bessent, Hassett, Warsh, and Waller.
This news caused changes in the financial markets.
Trump stated he wants a Federal Reserve head who supports rate cuts.
He would like current Fed Chair Jerome Powell to resign.
Trump wants rates cut to 1% from the current 4.25%–4.50% range.
Potential candidates include Scott Bessent, Kevin Hassett, Kevin Warsh, and Christopher Waller.
News of Trump's comments affected currency markets.
- Who
- Donald Trump
- What
- Trump wants a new Federal Reserve head who supports interest rate cuts.
- When
- Recent
- Where
- Washington
- Why
- To align the Fed's monetary policy with his preference for lower interest rates.
Trump's Stance
Federal Reserve's Stance
Interest Rate Policy
Trump's Stance
Trump wants lower interest rates.
Federal Reserve's Stance
The Federal Reserve is cautious about cutting rates due to potential inflation risks.
Fed Independence
Trump's Stance
Trump wants to replace the Fed Chair.
Federal Reserve's Stance
The Federal Reserve should remain independent.
- Current Fed Benchmark Rate
- 4.25%–4.50%
- Trump's Desired Rate
- 1%
- Powell's Term Expiration (Chair)
- May 2026
- Potential Candidates
- Scott Bessent, Kevin Hassett, Kevin Warsh, Christopher Waller
- Market Reaction
- US dollar fell, stocks rose
