The president hasn’t named a successor to Jerome H. Powell, but his insistence on someone who will lower interest rates has already raised doubts about their credibility.

Trump demands that the Fed reduce rates by at least 3 points to save the US $360 billion a point. The Polymarket bets 95% that the Fed will ignore Trump’s demands this month. Trump considers naming a shadow chair until the current chair, Jerome Powell, leaves office next year.

The White House has stepped up its attacks on Federal Reserve Chair Jerome Powell, criticizing him over renovations at the central bank's Washington, D.C. headquarters.