Trump will decide on the new director of the Federal Reserve this week, who may also be Powell's successor.

US President Donald Trump, who is actively influencing the monetary policy of the central bank, stated that he will decide this week on who will replace the soon-to-be outgoing Federal Reserve Board member Adriana Kugler. "I will make a decision by the end of this week," Trump told the media at an event at the White House on Tuesday. "We will decide whether it's a permanent term or a four-year term. You know, there are also terms of a few months." The Federal Reserve announced last Friday that Kugler will resign from her position as board member before the end of her term in January next year. This provides Trump with an earlier opportunity than expected to appoint someone who shares his stance on interest rate cuts to the Federal Reserve Board.