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.
Venezuela has released 116 detainees in a new wave of prisoner releases, according to the Penitentiary Services Ministry....
Israeli Prime Minister Benjamin Netanyahu has thanked Kazakhstan’s President Kassym-Jomart Tokayev for the country’s decision to join the Abraham ...
The European Parliament has announced a ban on Iranian diplomats following the government’s response to nationwide protests in Iran. President Rober...
Sweden will spend 4 billion crowns on unmanned drone systems to be delivered over the next two years, Defence Minister Pal Jonson revealed on Monday....
India and Germany have agreed a range of deals to deepen cooperation between the two nations, with defence, trade and technology high on the agenda....
Venezuela has released 116 detainees in a new wave of prisoner releases, according to the Penitentiary Services Ministry.
Israeli Prime Minister Benjamin Netanyahu has thanked Kazakhstan’s President Kassym-Jomart Tokayev for the country’s decision to join the Abraham Accords.
The European Parliament has announced a ban on Iranian diplomats following the government’s response to nationwide protests in Iran. President Roberta Metsola confirmed the measure in a post on X on Monday, 12 January.
In late 2025, Iran appeared to recalibrate its approach to Armenia, shifting from a security-centred posture toward a more conventional diplomatic engagement, as regional dynamics in the South Caucasus evolved.
Timothée Chalamet won the Golden Globe for best male actor in a musical or comedy on Sunday for his role in Marty Supreme, beating strong competition in one of the night’s most closely watched categories.
Hawaii’s Kīlauea volcano is showing increased activity, with lava flowing from two summit craters and flames, smoke and ash rising from the caldera.
Bob Weir, the rhythm guitarist, songwriter and co-founder of the Grateful Dead, has died at the age of 78, his family has said.
The United States’ actions in Venezuela have clearly demonstrated not only that Latin America remains firmly in Washington’s geopolitical orbit, but also that the U.S. is the only global superpower.
Despite facing challenges in chip manufacturing, Chinese artificial intelligence (AI) researchers are optimistic about narrowing the technological gap with the United States, driven by an increasing culture of risk-taking and innovation.
Venezuela has released 116 detainees in a new wave of prisoner releases, according to the Penitentiary Services Ministry.
The European Parliament has announced a ban on Iranian diplomats following the government’s response to nationwide protests in Iran. President Roberta Metsola confirmed the measure in a post on X on Monday, 12 January.
Sweden will spend 4 billion crowns on unmanned drone systems to be delivered over the next two years, Defence Minister Pal Jonson revealed on Monday.
India and Germany have agreed a range of deals to deepen cooperation between the two nations, with defence, trade and technology high on the agenda.
The UK’s media regulator Ofcom has launched a formal investigation into the social media platform X, owned by US billionaire Elon Musk, over concerns that its artificial intelligence tool Grok has been used to generate sexualised images of women and children.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment