Trump : claims he is almost done selecting the new head of the Federal Reserve
Trump: US President Donald Trump told reporters that he is interviewing a select few candidates and would make an announcement in the next weeks, indicating that he is almost done choosing the next head of the US Federal Reserve.
Trump said, “We’re talking to three or four,” when asked how many candidates he is considering for the position. To be honest, I believe all of these would be smart choices. We’ll be coming to a conclusion really quickly.
Additionally, Trump was questioned about certain names that were allegedly being considered. Trump replied, “I think he’s great,” referring to Christopher Waller, the governor of the Federal Reserve. He’s a guy that has been there for a long time, and I was very connected with him in terms of his career. He is also an amazing individual.
Trump responded equally favorably when asked about Governor Michelle Bowman. “She is amazing. He said, “She’s a wonderful person.”
Trump did not specify the criteria he used to make his decision or state whether he had decided on a favorite. When asked when the decision would be made, he said that it will happen “over the next couple of weeks,” adding, “I mean, I don’t know before the end of the year, but pretty soon.”
Although his comments on the Federal Reserve were short, markets kept a close eye on them.
The chair of the Federal Reserve is crucial in determining US monetary policy, which includes decisions on interest rates and financial stability that have an impact on the whole world.
Investors, governments, and central banks throughout the globe, including in India, where US rate policy affects capital flows, currency fluctuations, and borrowing costs, closely monitor changes at the top of the Fed.
As policymakers attempted to control inflation while maintaining economic growth, the present Fed leadership has presided over a vigorous cycle of interest rate changes in recent years.
Trump’s selection for the position is a highly watched indication of his larger economic ambitions since he has said time and time again that monetary policy should encourage economic growth.