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The U.S. Treasury Secretary announces the selection plan for the Chairman of The Federal Reserve (FED), Trump may decide on a successor in advance.
[Coin World][U.S. Treasury Secretary: Selection of New Federal Reserve Chairman to Begin in Fall] On July 3 local time, U.S. Treasury Secretary Becerra stated that there are many excellent candidates for the Federal Reserve Chairman, and work on this will begin in the fall. Previously, it was reported that President Trump is considering nominating the next Federal Reserve Chairman early to weaken the influence of the current Chairman Powell, who has 11 months remaining in his term. According to insiders, Trump is considering selecting and announcing Powell's successor before September or October, "and Trump's anger towards Powell may lead him to announce a successor earlier sometime this summer." Trump is considering former Federal Reserve Governor Kevin Warsh and White House National Economic Council Director Kevin Hassett. Additionally, insiders revealed that Treasury Secretary Becerra has been recommended as a potential candidate; other competitors include former World Bank President Malpass and Federal Reserve Governor Christopher Waller.