Powell under threat and the Senate in the picture In a move that could reshape the contours of US monetary policy, President Donald Trump plans to nominate a new member of the Federal Reserve Board before the end of the week, succeeding Adriana Kugler, who announced her abrupt departure from the board to return to academic work. Interestingly, Trump not only intends to fill the vacant seat, but also seeks to promote the same person to replace the current Fed Chairman, Jerome Powell, when his term ends next May. The move would require two Senate confirmations-one to confirm the member, the other to head the Fed, which could put Trump in a position of power within the most influential institutions of the economy. Trump accounts: one person... Two goals Trump said that the nomination of one person for this position can serve two strategic goals: to fill the vacant seat immediately, and then prepare him in the coming months to lead the US central bank in the future. According to his statements, the list of candidates is narrowing, it includes such faces as Kevin Hassett, Kevin Warsh, while Treasury Secretary Scott Bessent, who preferred to stay in his current position, was excluded. This step is not just an administrative appointment, but a calculated maneuver that gives Trump a person
