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.
Australia’s eSafety regulator has asked gaming companies, including Microsoft and Roblox, to explain how they are protecting children from se...
Iran’s Revolutionary Guards targeted three vessels, seizing two of them for alleged maritime violations and transferring them to Iranian shor...
Lufthansa will cut around 20,000 short-haul flights from its summer schedule as it moves to address sharply rising fuel costs linked t...
Foreign investors may face stricter limits on accessing agricultural land in Uzbekistan under proposed reforms aimed at strengthening national cont...
Florida’s Attorney General has launched a criminal probe into ChatGPT and its parent company OpenAI to investigate information the generative...
Australia’s eSafety regulator has asked gaming companies, including Microsoft and Roblox, to explain how they are protecting children from sexual exploitation and radicalisation.
Iran’s Revolutionary Guards targeted three vessels, seizing two of them for alleged maritime violations and transferring them to Iranian shores, as U.S. President Donald Trump said Washington is extending its ceasefire with Iran until Tehran submits a proposal.
Lufthansa will cut around 20,000 short-haul flights from its summer schedule as it moves to address sharply rising fuel costs linked to the Iran conflict.
Foreign investors may face stricter limits on accessing agricultural land in Uzbekistan under proposed reforms aimed at strengthening national control and improving land-use efficiency.
Iran accuses the United States of breaching a ceasefire after a commercial ship was seized in the Gulf of Oman, vowing retaliation, as Israel warns south Lebanon residents to avoid restricted areas.
Progessive Bulgaria, led by pro-Russian Eurosceptic Rumen Radev is on track to form Bulgaria’s next government, after official results showed a runaway victory for the coalition in the Balkan nation's parliamentary elections on Monday (20 April).
The architect of the modern K-pop boom, Bang Si-hyuk, is facing arrest by South Korean police over claims he illegally gained millions in an investor fraud scheme.
Pakistan is confident it can bring Iran to talks with the United States, a senior official said, citing “positive signals” from Tehran, as JD Vance is reportedly set to visit Islamabad on Tuesday for peace talks, according to Axios.
A gunman who killed seven people in a mass shooting in Kyiv on Saturday (18 April) had quarrelled with his neighbour before he opened fire on passersby, public broadcaster Suspilne cited Interior Minister Ihor Klymenko as saying on Tuesday.
Australia’s eSafety regulator has asked gaming companies, including Microsoft and Roblox, to explain how they are protecting children from sexual exploitation and radicalisation.
Florida’s Attorney General has launched a criminal probe into ChatGPT and its parent company OpenAI to investigate information the generative AI tool allegedly provided to a gunman who killed two people at Florida State University last year.
MMilitary planners from more than 30 countries are holding two-day talks in London from Wednesday to advance plans to reopen the Strait of Hormuz.
Ukraine is set to resume oil transit via the Druzhba pipeline on Wednesday, in a move Kyiv hopes will unlock a frozen €90 billion European Union aid package and ease tensions with key European partners.
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