<span>STORY: U.S. President Donald Trump has indicated that he will announce his chosen successor to current Fed Chair Jerome Powell early next year.</span><span>He has also said that the next Fed Chair will be someone who believes in lower interest rates “by a lot.”</span><span>Trump has demanded, in some cases, that rates be cut to as low as 1%. The current Fed rate ranges from 3.5% to 3.75%. </span><span>“If rates were to be cut a lot,” said Brown, “I think that would have a few different impacts. One is that it would drive inflation higher, which is going to drive long [-term] rates higher.”</span><span>She added that “we also might start to see a loss of confidence in the U.S. bond market” as foreign governments who have purchased U.S. debt could “decide to put their money elsewhere.”</span>
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