Trump: I have made my choice for the next Federal Reserve chairman

US President Donald Trump has announced that he has decided on his choice for the next chairman of the United States Federal Reserve. Trump has made it clear that he expects his nominee to bring about interest rate cuts.

"I know who I'm going to pick, yes. We'll announce it," Trump told reporters on Air Force One.

Trump has frequently criticized current Federal Reserve Chairman Jerome Powell for failing to cut rates quickly and has signaled that he wants a chairman who will pursue cuts more forcefully.

American media reports that the Director of the White House National Economic Council, Kevin Hassett, Trump's top economic advisor, is seen as the possible choice to succeed Powell.

Trump trusts Hassett and sees him as connected to the desire to push for more aggressive interest rate cuts at the central bank.

Hassett has said he would accept the role if asked, although analysts warn he may have difficulty joining the Federal Reserve's interest rate-setting committee and may be more vulnerable to pressure from Trump./CNA

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