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US President Donald Trump-led administration has started a search for the chief of Federal Reserve and five people have been named in the short list.

According to CNN, Trump has made no secret of his distaste for Fed Chair Jerome Powell, whose term ends in May next year. Often, the President has said he would fire Powell or force him to resign. He even have berated the Federal chief for not lowering the interest rate and called on the Fed’s Board of Governors to oust him.

Trump will likely be picking a name for Powell’s replacement by December.

CNN quoted Treasury Secretary Scott Bessent, who is leading the administration’s search, as saying that he has interviewed about a dozen candidates around Labor Day, but said Monday he has narrowed it down to five people.

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