Trump may announce a new Federal Reserve Chair by the end of January, and the US may not be taking the potential trade war with the EU seriously.

BlockBeats News, January 20 — U.S. Treasury Secretary Janet Yellen is not optimistic about the European Union’s ability to quickly respond to Trump’s “Greenland tariffs.” She predicts that rather than taking swift action, the EU is more likely to establish a so-called “Terrible European Working Group.”

Yellen hinted that this group, composed of 27 member states, has low decision-making efficiency, which will hinder its ability to organize an effective counterattack or quickly deploy its most powerful trade tool — the so-called “Counter-Coercion Tool.”

While attending the World Economic Forum in Davos, Switzerland, Yellen sarcastically told a small group of reporters, “I think they’ll first establish that ‘Terrible European Working Group,’ which seems to be their most powerful weapon.” This statement indicates that Washington does not seriously consider the possibility of the EU deploying its strongest trade weapon, which, once activated, could restrict American companies from entering the EU single market.

On other topics, Yellen stated that the next Federal Reserve Chair candidate is unlikely to be announced during Trump’s visit to Switzerland. “I think it will be next week,” Yellen said, implying that the government plans to announce the decision before the end of January.