Trump to Announce Federal Reserve Board Nominee This Week

According to PANews, U.S. President Donald Trump announced that he will decide this week on a nominee to replace Federal Reserve Board member Adriana Kugler, who is set to resign before her term ends in January next year. This unexpected vacancy provides Trump with an earlier opportunity to appoint someone who aligns with his stance on lowering interest rates. Trump has been consistently pressuring the Federal Reserve and its Chairman, Jerome Powell, to reduce borrowing costs. The individual Trump selects for the Federal Reserve Board could potentially be a candidate to succeed Powell when his term as Chairman expires in May. This appointment may influence the direction of interest rate policy to align with the expectations of the Trump administration.