Wednesday, January 28, 2026 at 2:00 AM
President Trump is expected to announce his nominee for the Federal Reserve chair soon, emphasizing the need for significant interest rate cuts, while the new policymaking committee may resist such actions.
President Trump has demanded that Fed Chair Jerome Powell cut rates. But it isn’t the Fed chair alone who sets them. Here is who does.
The president later said he didn’t extract any concessions from the Federal Reserve nominee.
Warsh has recently advocated for lower rates, but a smaller Fed balance sheet.
The president said he plans to announce his choice to succeed Jerome Powell as Fed chair on Friday.
