U.S. President Donald Trump said on Tuesday that he will likely announce his pick for the next Federal Reserve chair early next year, ahead of the expiry of current Chair Jerome Powell’s term in May 2026.
“We’ll be announcing somebody, probably early next year, for the new chairman of the Fed,” Trump said during a Cabinet meeting at the White House, without giving further details.
Treasury Secretary Scott Bessent, in charge of the selection process, had previously indicated the decision could be made public before Christmas. Trump said he already knew who he would nominate and has been considering around 10 potential candidates, narrowing the choice to one.
Trump has long criticised Powell as “too hesitant” in seeking interest rate cuts and suggested his successor would act more decisively to reduce rates. Powell could remain on the Fed board for two more years as a governor after his term as chair ends.
Potential candidates reportedly include White House National Economic Council Director Kevin Hassett, Fed Vice Chair for Oversight Michelle Bowman, Fed Board Member Christopher Waller, former Fed Board Member Kevin Warsh, and BlackRock executive Rick Rieder.
Separately, Trump said the U.S. will see “the largest tax refund season ever” next year, with refunds to be paid from tariff revenues. He suggested that, in the future, Americans might even pay no income tax, citing the substantial revenue generated under his administration.
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Former Honduran President Juan Orlando Hernández, who was serving a 45-year prison sentence in the United States for helping drug traffickers smuggle...
Belgian authorities have taken former EU foreign policy chief Federica Mogherini into custody as part of an ongoing fraud investigation, officials con...
U.S. President Donald Trump announced on Tuesday that a new phase of attacks against alleged drug traffickers will target land-based sites and “anyb...
Thousands of protesters took to the streets of Paris on Tuesday as French unions staged nationwide strikes and demonstrations to press the government on its 2026 budget proposals.
As the year comes to an end, a new initiative bringing civil society actors and regional analysts from Armenia and Azerbaijan together is steadily gaining ground.
Belgian authorities have taken former EU foreign policy chief Federica Mogherini into custody as part of an ongoing fraud investigation, officials confirmed Tuesday.
NATO Chief Mark Rutte repeated on Tuesday that the consensus needed for Ukraine to join the alliance is not there at the moment.
A four-part docuseries executive produced by Curtis '50 cent' Jackson and directed by Alexandria Stapleton on Netflix is at the centre of controversy online.
Security concerns across Central Asia have intensified rapidly after officials in Dushanbe reported a series of lethal incursions originating from Afghan soil, marking a significant escalation in border violence.
Moscow and Kyiv painted very different pictures of the battlefield on Sunday, each insisting momentum was on their side as the fighting around Pokrovsk intensified.
Russia has claimed a decisive breakthrough in the nearly four-year war, with the Kremlin announcing the total capture of the key logistics hub of Pokrovsk just hours before United States mediators were due to arrive in Moscow.
French President Emmanuel Macron addressed critical issues surrounding Ukraine’s ongoing conflict, the role of American mediation, and European involvement during a press conference on Monday, reaffirming France’s commitment to supporting Ukraine's sovereignty and ensuring peace in the region.
Azerbaijan’s Deputy Foreign Minister Yalchin Rafiyev says COP31 in Türkiye will strengthen regional climate cooperation, with Baku ready to share its COP29 experience and coordinate the upcoming agenda with Ankara.
Tajikistan’s President Emomali Rahmon has held an emergency meeting with the country’s security leadership following the death of five people at the Tajik Afghan border.
Tensions surrounding Bulgaria’s imminent entry into the Eurozone boiled over into violence on Monday, as security forces struggled to contain angry demonstrations across the country just weeks before the currency switch.
Afghanistan and Iran have agreed to strengthen agricultural cooperation as Afghan officials seek to expand export routes and support struggling farmers across the country.
The Georgian Dream party says it has taken legal action against British Broadcaster BBC following an accusation of defamation in article published about protests in Tbilisi, the Georgian capital.
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