New York, June 26 (LaPresse) – President Donald Trump's "frustration" with Federal Reserve Chair Jerome Powell is reportedly pushing him to consider accelerating the announcement of Powell’s successor to September-October, or even as early as this summer. The Wall Street Journal, citing informed sources, reports that Powell’s term at the Fed expires in 11 months, but in recent weeks the president has entertained the idea of selecting and announcing the successor in the coming months. Among the candidates, the U.S. president is considering former Fed governor Kevin Warsh and National Economic Council director Kevin Hassett, as well as Treasury Secretary Scott Bessent, former World Bank president David Malpass, and Christopher Waller. Since the new Fed chair will not take office before next May, an announcement this summer or fall would bring forward the usual three-to-four month transition period. However, according to the financial newspaper, the designation could help influence investors’ expectations about likely interest rate trends, in an attempt to guide monetary policy before Powell’s term ends.
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