On October 28, local time, U.S. President Trump stated that Federal Reserve Chairman Powell is "incompetent" and mentioned that his term will end in May next year, at which point a new candidate will be appointed.
Trump said, "We have an incompetent Federal Reserve head, but he will be leaving in a few months, and we'll bring in someone new." Federal Reserve Chairman Powell's term will end in May 2026. Trump has repeatedly called for the Federal Reserve to significantly lower interest rates and has demanded Powell's resignation.
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