Trump is close to deciding who will be the next Federal Reserve chairman, in a move that will redraw the course of US monetary policy during a sensitive period for global markets.
The US president confirmed that he is “very close” to choosing the new candidate to lead the Federal Reserve, noting that the list of names includes surprising faces alongside traditional options with extensive experience in managing monetary policy.
Trump said that some voices within the administration are hindering the dismissal of Jerome Powell despite his desire to "replace him immediately," adding that the coming period will witness intensive consultations with prominent financial figures before the official announcement of the nominee.
Analysts believe that the selection of the new Federal Reserve chairman will be a turning point in the direction of interest rates, forex markets, gold and cryptocurrencies, especially with the increasing bets on a faster pace of interest rate cuts during 2026.
Global markets are awaiting the anticipated decision due to its direct impact on the strength of the dollar, liquidity flows, and investors' strategies in high-risk stocks, bonds, and currencies.
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