Donald Trump hits Fed chairman Powell as 'terrible' indicates replacement: 'I know three or four people' | Today news

US President Donald Trump escalated his criticism of the Federal Reserve chairman on Thursday (June 26) and called him ‘terribly’ and revealed that he has several potential successors in mind. “I know within three or four people I’m going to choose,” Trump told reporters in The Hague on the NATO summit when asked if he interviewed candidates to replace Powell. Shortlist appears for the next Fed chairman of the Reuters, Trump’s list of top contenders include: Former Fed Governor Kevin Warsh National Economic Council, Kevin Hassett, current Fed -Governor Christopher Waller, Treasury Secretary, Scott Besent Hassett, refused to replace Trump has discussed, saying, “I think the president will choose.” Powell warns against inflation of rates that testify before the congress on Wednesday (June 25), acknowledged that the recent inflation readings were more moderate than expected, but he warned that new rates could change that. “Higher rates can tighten inflation this summer,” Powell told a US Senate panel. While rates are often considered one -time price shocks, he noted, “It’s not a law of nature.” “When it comes in quickly and it’s over, yes, yes, it’s probably a one -time thing,” Powell said. “But it’s a risk we feel. Like the people who are supposed to maintain stable prices, we must manage the risk. ‘ The Federal Reserve carefully fed the rate cut. Although many people expect the rate cuts later this year, Powell emphasizes the importance of clarity on inflation outlook before acting. “We have to start seeing it over the summer, in the June number and the July number,” he said. “If we don’t, we’re completely open to the idea that the passage [of tariffs to consumers] Will be less than we think – and if we do, it will matter to policy. “Republican pressure is pressed during back-to-back hearings in the home and the Senate on this week, Powell has about why he did not defend the Fed’s caution after lowering. This is just something you want to approach carefully,” Powell told Senators.