U.S. President Donald Trump announced on Friday that he has narrowed his shortlist for the next Federal Reserve chair to two candidates, former Fed Governor Kevin Warsh and National Economic Council Director Kevin Hassett.
Speaking in the Oval Office to the Wall Street Journal, Trump emphasized his preference for being consulted on interest rate decisions, an unusual stance that could signal a more hands-on approach to monetary policy.
Referring to both candidates casually as “the two Kevins,” he described them as “great,” highlighting his focus on experience and alignment with his economic priorities as he prepares to appoint a new Fed leader next year.
Trump said he thought the next Fed chair should consult with him on where to set interest rates, the WSJ reported. Presidents typically leave rate decision-making up to the Fed.
“Typically, that’s not done anymore. It used to be done routinely. It should be done,” Trump said. “It doesn’t mean – I don’t think he should do exactly what we say. But certainly we’re – I’m a smart voice and should be listened to.”
Trump, asked by reporters in a separate Oval Office event whether he should have a say in Fed decisions on interest rates, said he should at least be consulted.
Trump has been critical of the Fed and its chair, Jerome Powell, for not making dramatic cuts to interest rates. The Fed cut rates by a quarter point on Wednesday.
“They don’t have to follow what I say. But we’re going to be choosing a new Fed person in the pretty near future,” he said.
(With Reuters Inputs)
Sofia Babu Chacko is a journalist with over five years of experience covering Indian politics, crime, human rights, gender issues, and stories about marginalized communities. She believes that every voice matters, and journalism has a vital role to play in amplifying those voices. Sofia is committed to creating impact and shedding light on stories that truly matter. Beyond her work in the newsroom, she is also a music enthusiast who enjoys singing.
