Trump is likely to allow Fed chair to serve remainder of his term, adviser says
CNN
President-elect Donald Trump is likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump requesting anonymity to describe private conversations.
President-elect Donald Trump is likely to allow Federal Reserve Chair Jerome Powell to serve out the remainder of his term, which expires in May 2026, according to a senior adviser to Trump who requested anonymity to describe private conversations. The adviser cautioned that Trump could always change his mind, but his present view — and that of Trump’s economic team — is that Powell should remain atop the central bank as it pursues its policy of cutting interest rates. Trump appointed Powell, a Republican former private equity executive who served on the central bank’s governing board, to its top spot in 2018. President Joe Biden reappointed him to a second four-year term. Gary Cohn, the Goldman Sachs alum who served as economic policy director during Trump’s first administration, is said to want the job, but former Trump officials have said the fact that Cohn resigned in protest over Trump’s steel tariffs makes it highly unlikely he’d get it. Among the names mentioned by sources in touch with the Trump transition are Kevin Warsh, who served for five years on the bank’s board of governors and advised Trump during his first term; as well as Trump’s former chief economist Kevin Hassett.
Two Jewish students at DePaul University in Chicago who were “visibly showing their support for Israel” were targeted Wednesday by masked attackers, according to a statement from the university’s president.
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No criminal charges to be filed in suffocation death of 12-year-old boy at North Carolina wilderness camp