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Trump hints that the selection of the Fed chairman has been determined, complains that the dismissal of Powell has been obstructed.
[Trump hints that the Federal Reserve Chair nominee is decided, complains about being blocked from firing Powell] Trump stated that he believes he has identified his choice for the next Federal Reserve Chair, while claiming that someone is preventing him from firing the current Central Bank leader, Powell. Trump told reporters, “I think I already know my choice.” However, he did not specify who the nominee is. U.S. Treasury Secretary Mnuchin stated that he has narrowed the competitors down to current Federal Reserve Board of Governors Waller and Bowman, former Federal Reserve Board of Governors Warsh, White House National Economic Council Director Hassett, and BlackRock executive Fink. Trump said, “We have some surprising names and some conventional names that everyone is talking about. We might go with a conventional choice. Occasionally walking the politically correct path is also good.” Mnuchin previously stated that he plans to submit recommendations to Trump after the Thanksgiving holiday. The next Federal Reserve Chair will need to maintain a cautious balance: catering to Trump's desire for low interest rates while also preserving investor confidence.