US President Donald Trump announced on Thursday that he will reveal his choice to replace Jerome Powell as Chair of the Federal Reserve next week.
“We’re going to be announcing next week,” Trump said at a Cabinet meeting, News.Az reports, citing foreign media.
His remarks came after the Fed held the policy rate steady at a target range of 3.5% – 3.75% on Wednesday, citing economic activity expanding at a “solid” pace.
Trump said Fed rates are “too high, unacceptably high.”
“We should have the lowest interest rate anywhere in the world. They should be two points and even three points lower,” he said.
