Trump mulls replacement for Fed Chair
President Trump has cast further doubts over the independence of the U.S. central bank – and hit the dollar – amid reports that he asked Republican members of Congress whether he should fire the Fed chair
Federal Reserve Chairman Jerome Powell Refuses to cut interest rates – despite constant pressure from Trump – over fears of fuelling inflation. Four year term ends May 2026. Wall Street insists independence of Fed “critical”
DOLLAR INDEX
Tracks currency against peers
Nine-day rally in dollar index ends amid speculation on Powell’s future
Rebound as Trump denies rumours of firing
MON
TUE
WED
THU
98.75
98.5
98.25
98.0
97.71
98.91
Kevin Warsh
Fed Governor 2006-11. Favoured by Trump for position of Chair in first term but lost out to Powell
Kevin Hassett
Director of National Economic Council and chair of Council of Economic Advisers in first Trump term
Christopher Waller
Fed Governor advocating faster rate cuts, believes trade policy not inflationary but may cause price hikes
Scott Bessent
Former hedge fund manager, now top international trade negotiator regarded as steadying hand for Administration
Sources: Financial Times, Axios
Pictures: Getty Images
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