Trump Eyes Fed Leadership Change, Wants Deep Rate Cuts

WASHINGTON (Reuters) – President Donald Trump said on Friday that he would soon announce his decision on the next Federal Reserve chair, emphasizing that a strong candidate for the role would be someone willing to lower interest rates.

“It’s coming out very soon,” Trump told reporters aboard Air Force One.

When asked about former Fed Governor Kevin Warsh, Trump responded, “He’s very highly thought of.” Warsh is widely seen as a leading contender for the position.

Earlier on Friday, Trump reiterated his belief that the Federal Reserve should cut interest rates by a full percentage point. He once again criticized current Fed Chair Jerome Powell, accusing him of being too slow in reducing borrowing costs.

The president has frequently expressed dissatisfaction with Powell, pressing for more aggressive rate cuts. The two met face-to-face for the first time last week, during which Trump reportedly told Powell that his reluctance to lower rates was a “mistake.”