President Donald Trump is accelerating his push for a new Federal Reserve chair who will more closely align with his economic policies. Tensions between Fed Chair Jerome Powell and Trump have intensified over the central bank’s interest rate decisions and broader monetary strategy. Trump has placed the blame squarely on Powell for not cutting rates, which he says has cost the nation "hundreds of billions of dollars." TRUMP CALLS FOR FED CHAIR JEROME POWELL TO IMMEDIATELY RESIGN Following a career in investment banking, Powell was appointed to the Federal Reserve by former President Barack Obama before Trump nominated him to his current role as Fed chair. Last week, Trump revealed he is evaluating "three or four" candidates to succeed Powell, whose term ends in May 2026.

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