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.
Anti-government protestors clashed with police in Albania's capital Tirana on Tuesday evening as thousands gathered to demand the resignation of the d...
Kyriakos Mitsotakis is due in Türkiye on Wednesday for talks with Recep Tayyip Erdoğan, as the two NATO allies seek to sustain a fragile thaw after ...
Polish prosecutors have requested a European arrest warrant for former Justice Minister Zbigniew Ziobro, who was granted political asylum in Hungary l...
Turkish Foreign Minister Hakan Fidan held a phone conversation with United Nations Secretary-General Antonio Guterres on Tuesday, diplomatic sources s...
French President Emmanuel Macron has warned that Europe should prepare for fresh friction with the U.S. and treat what he called the ‘Greenland mome...
Anti-government protestors clashed with police in Albania's capital Tirana on Tuesday evening as thousands gathered to demand the resignation of the deputy prime minister over alleged corruption.
Kyriakos Mitsotakis is due in Türkiye on Wednesday for talks with Recep Tayyip Erdoğan, as the two NATO allies seek to sustain a fragile thaw after decades of strained relations.
Polish prosecutors have requested a European arrest warrant for former Justice Minister Zbigniew Ziobro, who was granted political asylum in Hungary last month, amid allegations of large-scale misuse of public funds and abuse of power.
Turkish Foreign Minister Hakan Fidan held a phone conversation with United Nations Secretary-General Antonio Guterres on Tuesday, diplomatic sources said.
U.S. skiing great Lindsey Vonn underwent surgery in an Italian hospital on Sunday after her attempt to win Olympic downhill gold ended in a violent crash just seconds into the race at the Milano Cortina Winter Games.
JD Vance arrived in Armenia on Monday (9 February), becoming the first sitting U.S. Vice President to visit the country, as Yerevan and Washington agreed to cooperate in the civil nuclear sector in a bid to deepen engagement in the South Caucasus.
António José Seguro’s decisive victory over far-right challenger André Ventura marks an historic moment in Portuguese politics, but analysts caution that the result does not amount to a rejection of populism.
J.D. Vance met Azerbaijan's president Ilham Aliyev in Baku on a rare visit by a sitting U.S. vice president, signalling a renewed push to deepen cooperation with Azerbaijan on energy, security and regional stability.
Hamas has strongly condemned new Israeli government decisions to expand settlements in the occupied West Bank, warning the measures pose an “existential threat” to Palestinians and are designed to consolidate Israeli control over the territory.
Mexican Alpine skier Lasse Gaxiola will have his mother for company on his Olympic debut but she will not be cheering him from the finish area in Saturday's giant slalom in Bormio because she will be three hours away preparing her own race.
Canadian Prime Minister Mark Carney said a bridge project linking Canada’s Ontario province with the U.S. state of Michigan would contribute to cooperation between the two countries.
Ukrainian President Volodymyr Zelenskyy said air defence systems are being restructured and repaired as Russia’s latest attacks on energy infrastructure left parts of the country, including Kyiv, facing electricity and heating shortages during freezing winter conditions.
A senior adviser to Iran’s Supreme Leader said on Tuesday that negotiations with the United States must remain focused on the nuclear issue and be grounded in realism, as Washington and Tehran prepare to resume talks mediated by Oman.
Anti-government protestors clashed with police in Albania's capital Tirana on Tuesday evening as thousands gathered to demand the resignation of the deputy prime minister over alleged corruption.
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