Gate News bot message, The Federal Reserve Chairman Powell will deliver a speech at the European Central Bank Central Bank Forum on July 2, attracting widespread follow. Currently, the White House is actively planning for Powell’s successor. Treasury Secretary Basant revealed that there are already potential replacements and mentioned that the government may arrange candidates for the vacant position on the The Federal Reserve Board of Governors next January, who may take over the chairmanship.
At the same time, Trump again criticized Powell and the Federal Reserve, accusing them of maintaining high interest rates which have led to huge losses in the United States. There are also divisions within the Federal Reserve, with officials nominated by Trump calling for a rate cut as soon as possible. These contradictions are affecting the fragile economic situation. The upcoming June non-farm payroll report could complicate matters further.
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