Trump plans to create a 'shadow Fed chairman' first

BlockBeats News: On June 26th, according to The Wall Street Journal, Trump became increasingly dissatisfied with the Fed's inaction on interest rate cuts, prompting him to consider announcing the next Fed chairman in advance. At present, the current chairman Powell has 11 months left in his term. According to insiders, in recent weeks, Trump has been considering whether to select and announce Powell's successor in September or October of this year. Trump's dissatisfaction with Powell may even prompt him to make this decision earlier this summer. Trump is considering candidates including former Federal Reserve Governor Kevin Walsh and National Economic Council Director Hassett. In addition, Finance Minister Besent has also been recommended by supporters of both individuals as a potential candidate. Other possible nominees include former World Bank President Malpass and current Federal Reserve Governor Waller. Due to the fact that the new Federal Reserve Chairman will not officially take office until May next year, announcing the candidate in the summer or fall of this year would be much earlier than the previous transition period of three to four months. This early announcement can allow the nominee to influence the market's expectations for the future path of interest rates in advance. (Golden Ten)