Silver to $39.50: Up 9.4% Past 30 Days
Treasury Secretary Scott Bessent outlined the Trump administration’s strategy for replacing Federal Reserve Chairman Jerome Powell, whose term ends in May 2025. In a Bloomberg interview, Bessent revealed that current Fed officials are already under consideration for the role.
The administration has two main options: appointing someone to fill Fed governor Adriana Kugler’s departing seat in January who would then become chair in May, or waiting to appoint a new chair directly in May (though this would only be a two-year term).
Meanwhile, President Trump intensified his campaign for lower interest rates, posting a note on Truth Social accusing Powell of being “Too Late” and costing “the USA a fortune.” Trump also expanded his criticism to the entire Federal Reserve board, saying they’re “equally to blame” for current monetary policy.
