President Trump hinted he may still fire Federal Reserve Chair Jerome Powell. This occurred Monday at his Mar-a-Lago resort in Florida. He also suggested he has a preferred candidate for the next Fed chair.
Trump stated Powell should resign. He added he'd "love to fire him," and "maybe I still might." The president plans to announce his Fed chair pick sometime in January. He did not name his leading candidate.
The immediate impact remains uncertain. Markets may react to Trump's continued uncertainty about the Fed's leadership. No official response from the Federal Reserve has been issued.
Kevin Hassett, National Economic Council Director, is considered a frontrunner. Former Fed governor Kevin Warsh is also in the running. Other potential candidates include current Fed governors Christopher Waller and Michelle Bowman, and BlackRock's Rick Rieder.
The announcement of Trump's Fed chair pick is expected in January. Powell's future remains unclear. The situation is ongoing.
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