PIMCO: Trump may reshape the Fed through personnel appointments

PANews reported on July 23 that according to Jinshi, Pacific Investment Management Company (PIMCO) economist Tiffany Wilding pointed out in a report that although US President Trump may continue to criticize the Federal Reserve and call for interest rate cuts in the short term, he will not replace the current chairman Powell. Instead, Trump will influence the Fed's decision-making through upcoming appointments, including the term of Governor Kugler, which expires in January, and the term of Chairman Powell, which expires in May. It should be noted that Powell's term as a governor will last until January 2028. Wilding emphasized that no matter who Trump nominates to take over as chairman, the new leader must make a convincing monetary policy proposal, first obtain Senate approval, and then win the support of the majority of the Federal Open Market Committee.