Trump Says He'll Announce Fed Chair Pick Next Week

Summary

President Donald Trump said he will announce his Federal Reserve chair pick next week. He sharply criticized current Fed policy, saying rates are too high and should be two to three percentage points lower. Trump argued the US should have the world's lowest interest rate, estimating each point saves about $500 billion, and accused the current Fed chair of political bias. The remarks reinforce a dovish lower-rate narrative for US monetary policy.

• Trump says he will announce his Fed chair choice next week.
• He criticizes current Fed rates as too high and unacceptably high.
• He calls for rates two to three percentage points lower.
• He says the US should have the lowest interest rate in the world.
• He estimates each percentage point cut saves about $500 billion.
• He accuses the current Fed chair of political bias against cuts.
• Market implication: reinforces dovish Fed and lower-rate expectations.