Decision on nominating next Fed chair not ‘imminent’, White House says

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Jerome Powell’s term expires in May 2026, but the US president has become increasingly frustrated at the Fed’s reluctance to cut interest rates amid concerns that tariff policies will trigger another bout of US inflation. Photograph: Kent Nishimura/Getty Images The White House has said a decision on nominating the next US Federal Reserve chief is not “imminent” after a report that Donald Trump could nominate a new chair as soon as this summer knocked the dollar. “No Federal Reserve chairman decisions are imminent, although the president has the right to change his mind,” the White House said. “The president has...