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.
International organisations, investors, environmental experts and business representatives gathered in Samarkand for the opening of Eco Expo Central A...
China is sending doctors, medical teams and emergency supplies to help combat a growing Ebola outbreak in Central Africa, joining an international eff...
Armenian Prime Minister Nikol Pashinyan has said Yerevan remains committed to normalising relations with Azerbaijan and Türkiye, expressing confidenc...
Iran’s Revolutionary Guards (IRGC) said they struck a cargo ship owned by the “American-Zionist enemy” with a cruise missile after an Iranian fr...
Kazakhstan has restored oil production after an accident at the Tengiz oil field briefly disrupted output last week, while also signalling its readine...
International organisations, investors, environmental experts and business representatives gathered in Samarkand for the opening of Eco Expo Central Asia 2026, one of the region's largest environmental events focused on green growth, climate resilience and sustainable development.
China is sending doctors, medical teams and emergency supplies to help combat a growing Ebola outbreak in Central Africa, joining an international effort to contain the disease before it spreads further.
Armenian Prime Minister Nikol Pashinyan has said Yerevan remains committed to normalising relations with Azerbaijan and Türkiye, expressing confidence that decades of regional hostility will eventually give way to lasting stability.
Iran’s Revolutionary Guards (IRGC) said they struck a cargo ship owned by the “American-Zionist enemy” with a cruise missile after an Iranian freighter was attacked in the Sea of Oman.
Okinawa lost transport links and suffered widespread power outages on Monday (1 June) as Severe Tropical Storm Jangmi brought destructive winds and heavy rain to Japan's south-western islands.
Competing narratives continue to shape perceptions of the war in Ukraine, with Russian leadership suggesting a possible end phase while Ukrainian officials warn of renewed large-scale attacks and ongoing escalation risks.
U.S. Secretary of State Marco Rubio has held talks with Lebanese President and Israeli Prime Minister on efforts to ease tensions between Israel and Lebanon. According to a U.S. official, Washington has proposed a plan aimed at achieving a gradual de-escalation of hostilities.
When Armenians vote on 7 June, they will be voting in an election shaped by months of political change and a rapidly deepening relationship with the European Union. The result may not only determine who governs Armenia but also the future direction of the country's geopolitical alignment.
Unsealed records from the U.S. Department of Justice have renewed scrutiny of lawyer Robert Amsterdam after documents revealed communications between his law firm and Jeffrey Epstein's office. The disclosures have drawn attention because of Amsterdam's prominent role in Armenia.
China is sending doctors, medical teams and emergency supplies to help combat a growing Ebola outbreak in Central Africa, joining an international effort to contain the disease before it spreads further.
Iran’s Revolutionary Guards (IRGC) said they struck a cargo ship owned by the “American-Zionist enemy” with a cruise missile after an Iranian freighter was attacked in the Sea of Oman.
Dutch police have launched an investigation into the use of force against a pregnant woman at an asylum seekers' centre in Zeist after videos of the incident circulated widely on social media.
Hungarian Prime Minister Péter Magyar said on Monday that his government would begin legal proceedings to remove President Tamás Sulyok if he continues to reject calls to resign.
Hundreds of people were left homeless after a massive fire in Indonesia's capital Jakarta affected more than 300 houses, according to state-run media on Tuesday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment