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US President Donald Trump said in a speech in Iowa yesterday that he would announce his nominee for FED chairman “very soon.” This statement by Trump has accelerated expectations and speculation in financial markets.
Market analyst Ghiles Guezout stated that the announcement could come even today, while many news reports in recent weeks suggest that Trump has “already made” his decision regarding Jerome Powell’s successor. This has led to speculation that the White House may finalize the process for leading the Fed sooner than expected.
InvestingLive analyst Eamonn Sheridan pointed out that Trump may have deliberately chosen the timing. According to Sheridan, making the announcement simultaneously with the Fed’s January monetary policy meeting could be a strategic move. If the Fed does not cut interest rates at that meeting, announcing the new Fed chairman nominee during the meeting could strengthen the White House’s message on monetary policy.
The Fed will announce its highly anticipated interest rate decision today at 22:00 Turkish time (UTC+3), and it is almost certain that the decision will be to keep interest rates unchanged.
*This is not investment advice.