type: timeline_event
Trump declared that support for immediately cutting interest rates was a "litmus test" for his Federal Reserve chair pick to replace Jerome Powell, stating that "anyone who disagrees" with him would never head the Fed. Trump had previously called Powell "a major loser," a "numbskull," a "stiff," and a "deadhead," demanding his resignation. The leading candidates were reported to be "the two Kevins" - Kevin Hassett (National Economic Council Director and advocate for aggressive rate cuts) and Kevin Warsh (former Fed Governor). Powell's chair term expires May 15, 2026, though his governor term extends to January 2028.