The Fed's Messenger: Trump's Remarks Will Make the Next Fed Chair's Job Harder

April 25th news, Nick Timiraos, a journalist at The Wall Street Journal known as the "Fed's Messenger," wrote that Trump called Fed Chair Powell a "major loser," but the bigger loser in Trump's feud with the Fed may be the person Trump chooses next year to replace Jay Powell. By criticizing the Fed to influence policy, Trump may cast a "shadow of doubt" over his nominee. Lawrence Summers, who served as Treasury Secretary from 1999 to 2001 under the Clinton administration, stated, "Every president openly criticizing the Fed is an unwise move. The Fed will either not listen or feel pressured if they do, needing to prove their independence, which means short-term rates will remain unchanged or even higher."