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Trump to Nominate New Fed Chair by Christmas

11/26/2025

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Center

Trump Nominates Fed Chair

U.S. President Donald Trump plans to nominate the next Federal Reserve chair before Christmas.
Treasury Secretary Scott Bessent leads the search and notes that the process is progressing well.
National Economic Council Director Kevin Hassett is seen as the frontrunner, aligning with Trump on rate cuts.
The December meeting will be crucial as the Federal Reserve balances inflation control and employment stimulation amid ongoing economic uncertainty.

Right

Miran Advocates Rate Cuts

Federal Reserve governor Stephen Miran called for a series of 50 basis point cuts to lower borrowing costs and support the U.S. economy.
He argued that current monetary policy hinders growth and that high borrowing costs raise unemployment.
Labor market data supports this approach.
He warned that delaying action could stifle the economic recovery.
He emphasized the need for relief in mortgage rates amid tight housing conditions.

History

Historical Context

The Federal Reserve Act, enacted on December 23, 1913, established the Federal Reserve System to stabilize the U.S. economy following the Panic of 1907. This central banking system was designed to manage inflation and regulate monetary policy, evolving through crises like the Great Depression and the 2008 financial crisis. Today, debates continue over its role in economic recovery and employment rates.

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Trump Nominates Fed Chair

U.S. President Donald Trump plans to nominate the next Federal Reserve chair before Christmas.
Treasury Secretary Scott Bessent leads the search and notes that the process is progressing well.
National Economic Council Director Kevin Hassett is seen as the frontrunner, aligning with Trump on rate cuts.
The December meeting will be crucial as the Federal Reserve balances inflation control and employment stimulation amid ongoing economic uncertainty.

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