Fed Chair "Trump Will Not Appoint 'Shadow Speaker'"

Jerome Powell, chairman of the U.S. Federal Reserve, predicted that the second Trump administration does not believe it will attempt to reduce its authority by using a "shadow chair."

In a meeting hosted by the New York Times on the 4th local time, Powell responded to the possibility that President-elect Donald Trump would appoint a "shadow Fed chair" to create a lame duck before Powell's term ends, saying, "I don't think such a plan is in the option."

"We expect to maintain a general kind of institutional relationship with the next government as before," he added.

Earlier, U.S. Treasury Secretary nominee Scott Bessent said that even if Powell is not fired, naming the next Fed chair early and making him a shadow chair could give him monetary policy direction and impact markets.

As a result, even if Powell completes his term, there are observations that Trump will be able to shake the Fed's independence.