Trump restricts potential Federal Reserve chairman nominees to four, omitting Treasury Secretary Yellen
President Trump Narrows List of Potential Federal Reserve Chair Candidates
President Donald Trump is considering four potential candidates for the role of Federal Reserve Chair, according to recent reports. The expanded list includes Kevin Hassett, the White House National Economic Council Director, Kevin Warsh, a former Fed Governor, Christopher Waller, a current Fed Governor, and James Bullard, the former president of the St. Louis Fed who is now a business school dean.
Kevin Hassett, a prominent supporter of President Trump's economic agenda, has a doctoral degree in economics from the University of Pennsylvania. He served as Chairman of the Council of Economic Advisers in the first Trump administration and returned to the White House to help deal with the pandemic. After leaving the White House in 2019, Hassett became a fellow at the Hoover Institution.
Hassett has been a vocal advocate for President Trump's policies, including income tax cuts, tariffs, and the recent firing of BLS Commissioner Erika McEntarfer. In a statement on CNBC, Hassett acknowledged that there are people resisting Trump's agenda throughout the U.S. government.
Kevin Warsh, another potential candidate, is a former Fed Governor who stepped down in 2011. He is currently a fellow at the Hoover Institution. Warsh has been supportive of cutting interest rates, a key goal of Trump's.
Scott Bessent, Treasury Secretary, was also considered for the Fed chair role but has declined, opting to remain in his current position. The expanded list of candidates reflects Trump's ongoing search for a successor to Jerome Powell as Fed Chair, focusing on those seen as supportive of his agenda for lower interest rates.
Trump has not yet named his top two candidates for the Federal Reserve chair position. He is deciding whether he'll nominate someone to permanently join the board and possibly succeed Powell or simply serve out the remaining months of Adriana Kugler's term, who has announced her departure, creating an opening for Trump to name a new Fed governor.
President Trump has suggested that his pick to replace Kugler could also be his choice to replace Jerome Powell as Federal Reserve chair. Trump plans to name his pick to join the Fed's board of governors soon.
- The government of the United States is currently in the process of deciding who will replace Jerome Powell as the Federal Reserve Chair, with President Trump considering four potential candidates, including Kevin Hassett and Kevin Warsh.
- Kevin Hassett, a former Chairman of the Council of Economic Advisers, has been a vocal advocate for President Trump's policies, including income tax cuts, tariffs, and his recent migration of personnel within the government.
- In addition to Hassett, another potential candidate for the Fed chair position is Kevin Warsh, a former Fed Governor who has been supportive of cutting interest rates, a key goal of President Trump's economic agenda.
- Recent reports indicate that Trump's choice for the Federal Reserve chair position could also be his pick to replace Adriana Kugler, who has announced her departure, creating an opening for Trump to name a new Fed governor.
- The politics surrounding the decision are complex, as the choice for the Federal Reserve chair will have significant implications for the U.S. economy, business sector, and general news landscape, especially in the context of war-and-conflicts, migration, and policy-and-legislation.
