Who comes next?
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 26 June 2025
⏱️ 8 minutes
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Summary
The Wall Street Journal is reporting that President Donald Trump is thinking about announcing his pick to replace Federal Reserve Chair Jerome Powell as soon as this fall, months before Powell’s term is over. Plus, the national price tag for health care is expected to reach more than 20% of GDP by 2033, even as Congress considers significant cuts to what taxpayers spend on health care for vulnerable Americans. And later, what is a "shadow fleet"?
Transcript
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| 0:00.0 | President Trump moves markets in part by calling America's central banker names. |
| 0:07.4 | I'm David Brancaccio in Los Angeles. A published report is moving financial markets that President Trump could announce a successor to, but not yet replace the powerful chair of the Federal Reserve. |
| 0:18.6 | Jerome Powell's term isn't over until next year. Marketplaces Nancy |
| 0:21.9 | Marshall-Gensar has more. President Trump has made no secret of his displeasure with Fed Chair Jerome Powell. |
| 0:27.6 | He wants the Fed to lower interest rates right away. Yesterday at a NATO press conference, he had this to say about Powell. |
| 0:34.6 | I think he's a very stupid person, actually. |
| 0:36.5 | The president added that he's narrowed his pick to replace Powell down to three or four |
| 0:41.1 | people. Powell's term as chair ends next spring. Brian Reeling, head of global fixed income |
| 0:46.9 | strategy at Wells Fargo Investment Institute, says that makes it easier for Powell to resist Trump's |
| 0:52.6 | pressure campaign. Obviously, he is extremely unlikely to be renominated. |
| 0:58.1 | So, you know, I'm not sure he feels a lot of pressure from the political rhetoric. |
| 1:02.6 | In congressional testimony this week, Powell said the Fed is in good shape to wait on an interest rate cut. |
| 1:08.7 | He wants to see how Trump's tariffs affect the economy and says |
| 1:12.0 | they could start driving up prices this summer. I'm Nancy Marshall Genser for Marketplace. |
| 1:18.9 | The U.S. Dollar Index versus other currencies is down a full percentage point since the latest |
| 1:24.4 | Trump attack on Powell. That's in part to bet the U.S. economy could get weaker. |
| 1:28.9 | The dollar is down 10 percent this year. The flip side is a weaker dollar makes U.S. exports cheaper, |
| 1:34.6 | easier to sell in foreign countries. The cost of health care is ever growing. New government estimates |
| 1:40.2 | show it will go from 17 to 20 percent of total U.S. economic output within eight years. |
| 1:46.3 | This says Republican lawmakers debate how deeply they want to cut health care programs like Medicaid as part of the big tax cutting and spending plan. |
| 1:54.8 | The House version of the bill means 11 million people could lose health insurance. |
| 1:59.0 | Marketplace's Elizabeth Troval looks at why the tab for |
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