Trump vows Fed chair pick must agree with him on interest rate cuts
President Donald Trump stated he would only appoint a Federal Reserve chairman who shares his view that rates should be lowered during strong markets, directly linking the future appointment to his economic policy.
US President Donald Trump declared on Tuesday that any candidate for Federal Reserve chairman must agree with his stance on interest rates, explicitly stating that dissenters would not be considered. In a social media post, Trump criticized the Fed's past decisions to raise rates during economic strength, framing it as an unnecessary hindrance to market performance.
Call for a Chairman Who Prioritizes Market Growth
Trump argued that strong market performance does not cause inflation and that a future chair should "lower Interest Rates if the Market is doing well, not destroy the Market for no reason whatsoever." He emphasized that his selection of a successor to current Chair Jerome Powell, whose term ends in May 2026, represents his most significant chance to reshape the central bank's approach.
Long-Standing Criticism of Current Fed Leadership
The president has consistently pressured the Fed for more aggressive rate cuts and characterized Powell as hesitant. Tuesday's statement solidifies his intent to appoint a chair who will align monetary policy directly with his economic and market objectives.
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