Finance · South Africa
Trump to Reveal New US Federal Reserve Chair This Friday
Moneyweb · 2026/01/30
Summary
Former US President Donald Trump has announced that he will reveal his choice for the next Federal Reserve chair on Friday morning. This decision ends a long period of uncertainty and speculation about who will lead the US central bank, which plays a crucial role in global finance. The Federal Reserve is responsible for setting interest rates and controlling money supply, which can affect economies worldwide, including South Africa's. Investors and businesses often watch the Fed's moves closely because they influence currency values, borrowing costs, and overall economic stability. Trump's announcement will provide clarity on future monetary policies and may impact global markets soon after. South Africans with investments or business ties to the US and global markets should stay aware of these developments as they could affect exchange rates and investment opportunities.
OnABudget takeaway: South Africans with investments or businesses linked to global markets should monitor the Fed chair announcement because it could influence interest rates and the rand's strength, impacting borrowing costs and spending power.