President Donald Trump is set to announce his pick for chair of the Federal Reserve next week.
Trump revealed plans to announce Chairman Jerome Powell’s successor during Thursday’s Cabinet meeting.
“Next week I think sometime, Scott and Howard and everybody, we’re going to be announcing the head of the Fed, who that will be, and it’ll be a person that will, I think, do a good job,” he said.
“We’re paying far too much interest in the Fed,” the president stated, adding the rate is “unacceptably high.”
Trump blasted Powell in a Truth Social post earlier in the day over the Fed’s refusal to cut interest rates:
Jerome “Too Late” Powell again refused to cut interest rates, even though he has absolutely no reason
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