President Donald Trump said he would make his decision on a replacement for outgoing Federal Reserve Governor Adriana Kugler this week as he looks to make his imprint on the central bank’s monetary policy.
“I’ll be making that decision before the end of the week,” Trump told reporters at a White House event on Tuesday. “We’ll either decide on one for permanence or the four-month period — the term. You know, there’s a term of about a number of months.” The Fed announced on Friday that Kugler would resign from her seat on the board of governors before her term is up in January, giving Trump an earlier than expected opportunity to tap a candidate more closely aligned with his calls for the central bank to lower interest rates.
Kugler’s exit comes amid a pressure campaign by Trump on the Fed and its chair, Jerome Powell, to lower borrowing costs.
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