The Trump administration will focus its attention on finding a replacement for Jerome Powell, the current Federal Reserve chairman, after Labor Day.
Sanziana Georgescu
International
sursa foto: Yuri Gripas - Pool via CNP / DPA / Profimedia
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US Treasury Secretary Scott Bessent has announced that the Trump administration will search for a replacement for Jerome Powell, criticized by the president. Although interest rate decisions are the Fed's, Bessent warned that a possible interest rate cut could be larger if not acted on quickly. Unemployment is low and inflation is above the 2% target. Bessent noted that tariffs imposed by Trump have not led to inflation, and markets have recovered quickly. A formal decision on Powell's successor could be announced in September.
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