#Powel 🔥🔥The last meeting of 2025 of the Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) will begin this Tuesday under uncertainty in the markets regarding a new interest rate cut, following the division shown in the October meeting, and with attention focused on the announcement of Jerome Powell's successor, who has been harshly criticized by Donald Trump, at the head of the Central Bank.
Attention is also focused on Jerome Powell, current chairman of the Federal Reserve, whose term ends in May 2026, whom Trump has repeatedly criticized for being too slow in addressing the pace of cuts, despite the fact that it was the same Republican who appointed him to that position during his first term.
The outcome of the meeting that begins tomorrow and Trump's response will provide clues about how the White House will behave regarding the traditional independence that the Fed should have.
Trump has already appointed Stephen Miran as governor of the Fed, an ally from the president's economic team who is advocating for more ambitious cuts in rates meeting after meeting against the opposition of most FOMC members to accelerate the cuts. For his part, Trump has publicly stated that he plans to announce "probably in early 2026" the next chairman of the Reserve, which adds visible political pressure on the institution and Powell.
At a recent event at the White House, Trump mentioned economist Kevin Hassett, who currently works for his Administration as director of the White House National Economic Council, as a "respected potential candidate" and, although he did not confirm any names, the consensus in Washington is that he will be the nominee.
Hassett's nomination, which must be confirmed by the Senate, could break with the traditional independence of the central bank from the Executive, something that Trump has not wanted to hide with his constant attempts to belittle and pressure Powell.
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