Trump says to announce new US Fed chair ‘next week’

WASHINGTON — U.S President Donald Trump said Thursday that he will announce a new Federal Reserve chief next week to replace Jerome Powell, whom he has repeatedly criticized for not lowering interest rates more aggressively. Trump’s comments at a cabinet meeting came after months of his escalating pressure on the independent central bank, with the president again slamming Powell as a “moron” for not slashing rates more quickly earlier in the day. Powell’s term at the helm of the Fed ends in May, and Trump has been due to unveil his replacement ahead of this deadline. As his search narrows, key contenders include former Fed official Kevin Warsh, Fed governor Christopher Waller, Rick Rieder of BlackRock and Trump’s chief economic adviser Kevin Hassett. On Thursday, Trump said: “We’re going to be announcing next week, I think, sometime.” “We’re going to be announcing the head of the Fed,” the U.S leader added. “It’ll be a person that will, I think, do a good job.” He renewed criticism of the bank, saying interest rates were still “too high, unacceptably high.” “We should have the lowest inter

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