The White House looks for a new fed chair near Powell at the end amidst the pressure of Trump
White House is preparing to start an interview for a new new Federal reserve chair As autumn, as Zerome polyThe term of a biden appointment ends in May 2026. Treasury secretary Scott Besant Confirming the timeline to Bloomberg during a visit to Argentina, saying that it gives Trump administration Six months window to plan further.
This decision comes amid increasing political pressure on the Federal Reserve. President Donald Trump has repeatedly urged Fed to cut interest rates. On 4 April, he posted on Truth Social: “Stop playing interest rates, zeroma, and politics”
Despite criticism, Besent said that there was no plan to remove Powell before the end of his term. He also said that Fed’s freedom is not in danger. However, Besant called for more conversation about Fed’s regulatory role. “Fed is one of the three bank regulators – the other two currency and the controller of FDIC,” he said. “It is possible to separate monetary policy from regulatory policy.”
He also said that there was no sign of nervousness during his recent visit to Fed. “It seems like business as usual,” he said.
Powell warned that Trump’s new tariff could lead to a slow growth and high inflation. Speaking in Virginia last week, he said that the economy faces “high risks” of both unemployed and value pressure – which can complicate any decision by his final successor.
“We face a highly uncertain attitude with high risks of both high unemployment and high inflation,” he said, “he said, reducing both mandates of 2% inflation and maximum employment of the fed.
