US President Donald Trump announced that he will decide on his nominee for the vacant position on the Federal Reserve Board by the end of this week.
Trump described Federal Reserve Board member Adriana Kugler's decision to resign from her position before the end of her term as a "pleasant surprise," giving him the opportunity to fill the position with someone who could also be promoted to replace Jerome Powell, the Fed's chairman, when his term ends next May.
Regarding the selection of a replacement for the Federal Reserve chairman, Trump said he had narrowed down the possible replacements to four: economic advisor Kevin Hassett, former Federal Reserve Board of Governors Kevin Warsh, and two others.
Trump has repeatedly threatened to fire the Federal Reserve chairman, arguing that current interest rates are too high, limiting investment growth, and preventing the country's economy from recovering to its previous pace.
