Trump to Appoint New Federal Reserve Chair in January

Former President Donald Trump announced his intention to select a new chairman for the U.S. Federal Reserve in January 2026, replacing Jerome Powell whose term concludes in May 2026. This appointment carries significant weight as it will shape economic policy and impact financial markets. Trump has cited the need for a more dynamic leader to address current economic challenges, contrasting with his predecessor’s approach. Key figures involved in the selection process include Treasury Secretary Scott Bessent and economic advisor Kevin Hassett. ]