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The Guardian - UK

Business

Joanna Partridge

Dollar falls to three-year low after report Trump may name next Fed chair early

Jerome Powell US Federal Reserve Donald Trump United States

Donald Trump looks on as Jerome Powell speaks at the White House — Donald Trump looks on as Jerome Powell speaks at the White House. Photograph: Carlos Barría/Reuters

The dollar has fallen to a three-year low following a report that Donald Trump is considering bringing forward the announcement of his choice to succeed the Federal Reserve chair, Jerome Powell.

The US president has repeatedly clashed with Powell, accusing the central bank chief of being too slow to cut interest rates, calling him “very dumb” in his latest broadside on Tuesday.

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