Trump Says Fed Chair Pick Coming Soon, Signals Support for Lower Interest Rates
Flash
June 7, 2025 4:48 PM
In Brief:
Trump says his choice for the next Fed Chair will be announced soon and favors rate cuts.
He also commented on Elon Musk, stating he has no plans to meet but wishes him success.
Former U.S. President Donald Trump told reporters that he will soon announce his choice for the next Federal Reserve Chair, noting that he already has a “fairly clear” idea of who the candidate will be. Trump emphasized that a “good” Fed Chair would lower interest rates, signaling a likely preference for a more dovish appointee.
The comments come amid speculation over whether Trump would reappoint current Chair Jerome Powell or opt for someone more aligned with his economic agenda, particularly ahead of the 2024 election cycle.
Trump was also asked about the possibility of cutting U.S. government contracts held by Elon Musk. He replied that “everything is on the table” but clarified that he has no intention of speaking with Musk at this time. “I hope he succeeds at Tesla,” he added.
The remarks offer insight into Trump’s broader economic stance, suggesting that monetary easing and discretionary fiscal oversight could be key themes in his potential second term.
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