Trump Prepares Interim Replacement at the Fed
US President Donald Trump stated that he will appoint an interim chairman for the Federal Reserve (Fed) in the coming days. This step follows Adriana Kugler's planned resignation from her position on August 8.
Trump stated that three interim candidates are being considered, most likely from Wall Street. He also mentioned that the selection process involves Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and Vice President J.D. Vance.
Furthermore, Trump reiterated that the two main names being considered for the next Fed Chair are Kevin Warsh, a former Fed Governor, and Kevin Hassett, Director of the National Economic Council. Both are known to be close to Trump's economic policies.
This replacement is in the market spotlight because it could influence the future direction of US monetary policy, especially amidst global economic uncertainty and inflation dynamics. Investors are now waiting to see who will be chosen and their views on interest rates and economic stability. (ayu)
Source: Newsmaker.id