Bicent: Kevin Warsh and Kevin Hassett are qualified to lead the Federal Reserve Board

SadaNews - U.S. Treasury Secretary "Scott Bicent" stated that President Donald Trump’s economic advisor "Kevin Hassett", and the American financier and banking executive "Kevin Warsh", are qualified to take on the presidency of the Federal Reserve Board.

Bicent added: The two proposed names have the experience and qualifications necessary to lead the U.S. central bank in the upcoming phase.

He indicated that "the U.S. administration expects to announce a new chairman for the Federal Reserve Board at the beginning of January next."

It is worth mentioning that any candidate for the position of Federal Reserve Chairman must receive approval from the Senate, which is controlled by the Republican Party.

Trump had unsuccessfully tried to expedite Powell's departure from his position by directing sharp criticisms and repeated complaints against him, despite the fact that he appointed him during his first term. Since then, Trump has expressed great regret over this choice, considering that the "Federal Reserve" has kept interest rates at "too high" levels.

On Wednesday, Trump announced that the board could have "doubled" the cut in the key interest rates at least, in the decision made that day.

During statements made at the White House on Sunday, Trump launched another scathing criticism of Powell, saying: "We are suffering under his leadership, and we will soon have a competent chairman for the Federal Reserve who wants to lower interest rates."

He added: "Interest rates are falling despite him. He is incompetent... an incompetent person suffering from Trump Derangement Syndrome."