Trump Advisers Urge Interim Fed Pick Ahead Of Jerome Powell Succession Decision
Synopsis
People familiar with the matter said that such a move would allow Trump to avoid rushing a permanent nomination and preserve flexibility ahead of Fed Chair Jerome Powell’s term ending in May 2026.
President Donald Trump’s advisers are reportedly urging him to appoint a temporary Federal Reserve governor to fill an upcoming vacancy on the central bank’s board, so that he has more time to decide on a potential successor to Fed Chair Jerome Powell.
People familiar with the discussions told Bloomberg that the interim appointment would fill the seat set to be vacated by Fed Governor Adriana Kugler, who announced she will step down on August 8. The term tied to that seat expires in January 2026.
They said that such a move would allow Trump to avoid rushing a permanent nomination and preserve flexibility ahead of Powell’s term ending in May 2026.
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