Trump: If we had a good Federal Reserve chairman, he would lower interest rates. I have a pretty good idea about the next Fed chair, which will be announced soon. Powell's term as Federal Reserve chairman will end on May 15, 2026, and his term as a member of the Federal Reserve Board will continue until January 31, 2028. However, there is no precedent in the past 70 years of a former chairman remaining on the board after leaving the chairmanship.
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