President Trump is set to announce his nominee for Federal Reserve chair, with pressure mounting on the Fed to cut interest rates more aggressively. He has mentioned White House National Economic Council Director Kevin Hassett and former Fed board member Kevin Warsh as potential candidates. Trump has criticized current Chair Jerome Powell’s cautious approach, labeling him a “stubborn mule,” while Powell faces scrutiny from a Justice Department investigation regarding his congressional testimony. The White House denies any political motives behind the subpoenas issued to the Fed.
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