Trump expects new Fed chair to immediately cut interest rates

President Trump expects his new Fed chair to immediately cut interest rates. Ahead of this week’s meeting of the Federal Reserve Board and its decision on interest rates, the president is laying out his expectations for the person he’ll appoint to lead the Fed next year. He told Politico that immediately cutting interest rates will be a litmus test for whomever he appoints. Current Fed Chair Jerome Powell’s term expires next year and White House economic adviser Kevin Hassett is seen as the frontrunner to replace him.