Trump is expected to choose the new Fed chief - Powell threatens again, expected to fire him in January
US President Donald Trump said he would nominate a new Federal Reserve chairman in January, adding that he was considering filing a lawsuit against current chairman Jerome Powell. At the end of a press conference with Israeli Prime Minister Benjamin Netanyahu in Florida, Trump said he had a favorite for the position of Federal Reserve Chairman, but did not name any names. He also criticized Powell as incompetent, citing the budget for the renewal of the Federal Reserve. Powell's term as Federal Reserve chairman ends in May 2026.
“I want the new Federal Reserve Chairman to lower interest rates if the market is doing well, not destroy the market for no reason,” Trump wrote later in a lengthy post on Truth Social. He added that inflation could be addressed later if it materializes, but warned that raising interest rates during strong stock performance risks a “killer” of the market.
Trump added that encouraging markets to grow could significantly boost economic performance, claiming that a GDP expansion of 10 to 20 percentage points per year was possible if monetary policy moved in the same direction. “The United States should be rewarded for success, not torn apart by it,” Trump wrote.
Meanwhile, the search for the next Federal Reserve chairman continues. Federal Reserve Governor Christopher Waller reportedly had an “interview” with Trump in early December at the White House. BlackRock’s Chief Investment Officer Rich Rieder is also thought to have been interviewed for the job in the last week of 2025.
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