Waller emerges as Fed chair favourite by Trump administration: Bloomberg
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The news: US Federal Reserve governor Christopher Waller is emerging as a top candidate to serve as the central bank’s chair, according to sources cited by Bloomberg, as President Donald Trump’s advisors look to replace Jerome Powell.
The context: Trump’s team is reportedly satisfied with Waller’s approach to move on policy based on forecasting, rather than on current data, as well as his deep knowledge of the Fed system, Bloomberg reports. Last week Waller was one of two Federal board members to vote against the central bank’s decision to hold rates steady for a fifth time running, preferring a quarter-point reduction.
Waller has met with Trump’s advisors about the role but its yet to meet with the president directly.
On Wednesday, Trump said that the administration has narrowed its list of candidates for the Fed chair position to three people. Former Fed official Kevin Warsh and current National Economic Council director under Trump, Kevin Hassett, are also in contention for the role.
Trump has been strongly outspoken against current chair Jerome Powell, raising concerns about whether his next pick to lead the reserve would support monetary policy independence for the central bank.
Powell's tenure as chair of the Fed expires in May 2026.
What they said: In a statement to Bloomberg, White House spokesman Kush Desai said: “President Trump will continue to nominate the most competent and experienced individuals…Unless it comes from President Trump himself, however, any discussion about personnel decisions should be regarded as pure speculation.”
The source: Bloomberg
