The US dollar is drowned to the lowest level in the Trump planning report early on the selection of the Federal Reserve Chairman

The US dollar sank to its lowest level in three years on Thursday, after a report on the president Donald Trump He plans to choose his candidate to work as the next president of the Federal Reserve early.

Wall Street Journal US dollar The index – which measures the power of the dollar for a basket of 16 foreign currencies – decreased to the lowest level in 97.01 on Thursday morning before peeling some of this decrease to 97.07.

The decline of the dollar comes in the wake of a Report from the magazine On Wednesday, who indicated that Trump is considering announcing his choice of Federal Reserve Chairman Jerome Powell, whose president ended next year.

Trump has repeatedly criticized Powell and Lodel Federal Reserve for not lowering interest rates, while insulting insults as well, describing him as “Numbskull” alongside the title “Very late”. At the NATO summit for this week, Trump said during a press conference that Powell is “terrible” and that he is “a very medium mental person” who has “low intelligence of what he is doing.”

“In general, you want the independence of the Federal Reserve,” said David Robinstein, co -founder of the Carlel Group. “The federal reserve independence since the Federal Reserve was created … it was a very important party for our economic system. Therefore, to the extent that the Federal Reserve is not seen as independent, it hurts the dollar and thus the dollar decreases.”

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Federal Reserve Policymakers have been martyred that the economic uncertainty resulting from commercial policy and potential inflation of customs tariffs as one of the main reasons for leaving the standard federal funds is in the range of 4.25 % to 4.5 %, as it was since the Federal Reserve reduced in December.

Federal Reserve Bank Fixed fixed rates For its fourth consecutive meeting last week, its next meeting is scheduled to be held in late July.

The President is considering named Khalifa Powell by September or October, according to the magazine’s report, who cited the people familiar with the matter – some of whom suggested that the director be the announcement of this summer.

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Among the prominent competitors, Trump is studying this role, the ruler of the former Federal Reserve, Kevin Wrash and the director of the National Economic Council, Kevin Haysit, while other capabilities include Treasury Secretary Scott Bessen, former World Bank President David Malibas and Federal Reserve Governor Christopher Waller, according to the magazine.

The report indicated that Trump will announce the candidate this year, as it gives the supposed Federal Reserve Chair in the future more opportunity to indicate how they deal with monetary policy decisions before the end of the Powell state.

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However, monetary policy decisions are taken by members of the Board of Directors voting as a group and not only by the president, so it is not clear the ability of the semi -Shadow Federal Reserve to influence these moves.

Powell term Since the Federal Reserve is scheduled to end in mid -May 2026, although he can choose to continue working as a member of the Governor Council at the Federal Reserve as soon as its presidency ends.

He is scheduled to conclude his term as a member of the Board of Directors of the Federal Reserve at the end of January 2028.

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He refused to say whether he would remain in the Federal Reserve after the end of his term, saying at a recent press conference that his only focus on dealing with monetary policy movements in the short term.