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.
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage...
The Israeli military has begun a new wave of strikes on Tehran, it said late on Monday. The strikes came after it issued...
Israeli Prime Minister Benjamin Netanyahu said on Monday that the U.S. and Israel's war against&...
The U.S. will take action to mitigate rising energy prices due to a spike in the price of oil caused ...
Former U.S. President Bill Clinton told lawmakers that President Donald Trump told him he had "some great tim...
The U.S. embassy in Riyadh was hit by two drones resulting in a limited fire and some material damage, the kingdom's defence ministry said in a post on X on Tuesday, citing an initial assessment.
Israeli Prime Minister Benjamin Netanyahu said on Monday that the U.S. and Israel's war against Iran may take "some time" but it will not take years.
The U.S. will take action to mitigate rising energy prices due to a spike in the price of oil caused by the Iran conflict, Secretary of State Rubio said on Monday.
The U.S.-Iran crisis has entered its third day, with further strikes reported across the Middle East and the death toll rising. Oil prices have surged to levels last seen during the Covid-19 pandemic, raising fears of economic disruption and higher prices worldwide.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
The Middle East crisis intensifies after the deadly attack on the compound of the Supreme Leader of Iran Ali Khamenei on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
Former U.S. President Bill Clinton told lawmakers that President Donald Trump told him he had "some great times" with convicted sex offender Jeffrey Epstein before their relationship soured, according to a video released on Monday (2 March).
The U.S.-Iran crisis has entered its third day, with further strikes reported across the Middle East and the death toll rising. Oil prices have surged to levels last seen during the Covid-19 pandemic, raising fears of economic disruption and higher prices worldwide.
The UK said it's allowing the U.S. to use its bases for defensive strikes against Iran amid escalating missile attacks, after a suspected drone strike hit a British airbase in southern Cyprus, causing limited damage.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
European Union stands with its member states in the face of any threat, EU Commission President Ursula von der Leyen said in response to the drone strike that hit Britain's Royal Air Force base of Akrotiri in southern Cyprus overnight.
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