Market Impact Looms as Trump Considers Fed Chair Replacement

Former Treasury Secretary Lawrence Summers predicts Donald Trump will appoint a mainstream, respected candidate to replace Fed Chair Jerome Powell, despite Trump's criticism of Powell's rate decisions and calls for lower interest rates. Summers suggests the choice will be aimed at stabilizing markets and avoiding economic destabilization, amid ongoing concerns about tariffs and supply shocks impacting inflation and unemployment. Trump’s political strategy appears to involve shifting blame for potential economic downturns onto external factors rather than his policies.