Key Takeaways
- Trump said a decision on the Federal Reserve chair will be announced soon.
- He praised Kevin Warsh, calling him 'very highly thought of.'
- Trump repeated his demand for a full percentage point cut in interest rates.
President Donald Trump told reporters on Friday that a decision on the next Federal Reserve chair will be made “very soon,” reiterating his preference for a candidate who would lower interest rates.
Praise for Kevin Warsh
Speaking aboard Air Force One, Trump added that…
… a good Fed chair would lower interest rates.
When asked about former Federal Reserve governor Kevin Warsh, he responded:
He’s very highly thought of.
Warsh is widely seen as a top contender for the role.
Renewed pressure on the Federal Reserve
Earlier that day, Trump renewed pressure on the central bank, saying he believes the Fed should slash interest rates by a full percentage point.
He also repeated his long-standing criticism of current Fed Chair Jerome Powell, stating that Powell has been too slow to cut borrowing costs.
Meeting with Jerome Powell
The two recently met in person for the first time.
During the meeting, Trump told Powell directly that he was making “a mistake” by not acting more aggressively to reduce rates.
Dissatisfaction with Powell’s leadership
Trump has made no secret of his dissatisfaction with Powell’s leadership and has repeatedly blamed him for slowing economic growth.
