President Donald Trump told reporters on Thursday that he will announce his pick to be the next chairman of the Federal Reserve’s Board of Governors sometime next week.
Trump has criticized incumbent Chairman Jerome Powell for failing to rapidly cut interest rates. Powell, who was nominated by Trump during his first term, is not set to depart his post until May. His full term on the board expires in 2028.
“We’re going to be announcing next week,” Trump said during his Thursday Cabinet meeting. “It’ll be a person that will, I think, do a good job. We’re paying far too much interest.”
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“We should have the lowest interest rate anywhere in the world, because a lot of these countries are successful only because of us, because
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