Trump announced the appointment of a new head of the Federal Reserve due to his position on the key interest rate

The new head of the US Federal Reserve System (FRS) will be the person who believes in reducing the key interest rate. This was announced on December 17 by the head of the White House, Donald Trump.

"I will soon announce our next head of the Federal Reserve System, a man who believes in a significant reduction in interest rates," he said during his address to the nation.

The Fight for the Reserve: Why Trump wants a Revolution at the Fed

The US president aimed to replace all the heads of the Federal Reserve with his loyalists.

On July 27, Trump called Fed Chairman Jerome Powell a "stubborn ass" and said he would be happy for him to leave. Then the American president said that the base interest rate in the United States should be 1%, while American citizens pay more. Later, on August 21, the US Department of Justice called for the resignation of Lisa Cook, a member of the Board of Governors of the Federal Reserve, but this was banned on October 1 by the American Supreme Court.

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