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As talks between the US and Iran continue, US President Donald Trump has made new statements regarding the Fed.
Speaking to Fox Business, US President Donald Trump made significant statements about current Fed Chairman Jerome Powell and the new Fed chairman nominee Kevin Warsh.
Trump harshly criticized Powell, stating that he should resign voluntarily.
At this point, Trump has stated that he will dismiss Powell if he does not resign. Powell’s term expires in May 2026.
Trump also said the Justice Department does not plan to end its investigation into Powell and stressed that issues related to the Fed’s building project should be investigated.
Adding that he hoped the new presidential nominee Kevin Warsh would be confirmed as the next Fed chairman next week, Trump said, “If Warsh takes office, interest rates could fall.”
In a poll titled “Who Will Be Confirmed as Federal Reserve Chairman?” on the prediction market Polymarket, Kevin Warsh is seen as having a 95% chance of being confirmed as FED chairman.
Finally, Trump, also commenting on the war with Iran, said that the war could end very soon and that the Strait of Hormuz was open. Stating that relations with China were progressing positively, Trump said: “China will be happy that I have opened the Strait of Hormuz permanently. China and the US are working together wisely and positively on Iran. China has agreed not to send weapons to Iran.”
*This is not investment advice.