TechFlow news, on June 26, according to Jinshi Data citing The Wall Street Journal, Trump is growing increasingly frustrated with the Federal Reserve's inaction on interest rate cuts, prompting him to consider announcing the next Fed chair earlier. Current Chair Powell still has 11 months left in his term. Sources familiar with the matter said that in recent weeks, Trump has been weighing whether to select and announce Powell's successor as early as September or October this year. His dissatisfaction with Powell could even push him to make the decision earlier this summer. Individuals under consideration include former Fed Governor Kevin Warsh and National Economic Council Director Hassett.
In addition, Treasury Secretary Bessent has been recommended by supporters of both men as a potential candidate. Other possible nominees include former World Bank President Malpass and current Fed Governor Waller. Since the new Fed chair would not officially take office until May next year, announcing a pick this summer or fall would be far earlier than the usual three- to four-month transition period. An early announcement would allow the nominee to influence market expectations about future interest rate paths ahead of time.
