President Trump Declares Support for 'Significant Rate Cuts' in Next Fed Chair

During a national address on the 17th, U.S. President Donald Trump explicitly stated that the next Chair of the Federal Reserve Board (FRB) will be someone who supports significant interest rate cuts.

The current FRB Chair, Jerome Powell, is scheduled to end his term in May 2026, and Mr. Trump has indicated his intention to announce a successor early next year.

Mr. Trump has repeatedly criticized Chair Powell, particularly over the pace and scale of rate cuts.

In the last three FOMC (Federal Open Market Committee) meetings, Powell has implemented a total of 0.75 percentage points in rate cuts, bringing the policy interest rate to the current target range of 3.50% to 3.75%.