Part 7/10:
The Trump administration has been critical of Powell for not lowering rates swiftly. In response, Powell has maintained that he will continue to follow economic data, which has led to a cautious stance with a 1% rate cut last year, keeping rates around 4.5%. The political landscape is further complicated by upcoming leadership vacancies—Powell's term ends in May, but he could remain on the Fed’s board for an additional two years, maintaining influence over monetary policy.
Several potential successors to Powell are emerging, though none are currently confirmed. Some candidates are leveraging media appearances to bolster their profiles, with Treasury Secretary Bessant notably avoiding direct endorsement but staying active in the discourse.