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Trump says preferred Fed pick is ready, again teases firing Powell
US president urges Jerome Powell to resign as he considers a ‘gross incompetence’ lawsuit against the Fed leader
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US President Donald Trump teased that he has a preferred candidate to be the next head of the Federal Reserve but is in no hurry to make an announcement while also musing that he might fire the central bank’s current leader, Jerome Powell.
“I do, still do – hasn’t changed,” Trump said at a press conference on Monday, when asked if he has a favourite candidate. “I'll announce him at the right time. There’s plenty of time.”
Trump added that Powell “should resign” and that he would “love to fire him”. The president came close to seeking Powell’s removal in July but backed away after a negative reaction in financial markets.
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“Maybe I still might,” Trump told reporters at his Mar-a-Lago resort in Florida.
Trump did not specify who his leading candidate is and said an announcement would be made in “January sometime”.
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National Economic Council Director Kevin Hassett has been seen as the front runner, though Trump has also expressed interest in former Fed governor Kevin Warsh.
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