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The term for Chairman of the Federal Reserve Jerome Powell ends in May of next year.

Trump Treasury Secretary Bessent says the process to find a replacement has begun.

Trump has been vocal that Powell should have lowered short-term interest rates, which has not happened, despite inflation being well under control, despite the media-generated fear that inflation would increase due to Trump's tariffs.

Trump has repeatedly called for Powell to resign, and even threatened due to remove him for cause as per the Fed's charter.

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