Wall Street Fears Trump Will "Hand-Pick" Next Fed Chair

Hedge fund billionaire Ken Griffin has called for the White House to stay out of the Federal Reserve's leadership decisions. He is the latest major finance figure to warn that former President Donald Trump may try to install a political ally to run the central bank. Griffin, founder of the Citadel hedge fund, stated that the White House must "distance" itself from the process. The concern is that Trump would select a chairperson who aligns with his political goals rather than one focused solely on economic stability. The Federal Reserve is meant to operate independently from politics. Its main roles are controlling inflation and maximizing employment. Experts say political pressure could undermine its ability to manage the economy effectively. Other Wall Street leaders have voiced similar worries recently. They argue that a Fed chair seen as politically influenced could shake global confidence in the U.S. economy.