Trump Narrows Fed Chair Candidates to Four Including White House Adviser

President Donald Trump is actively shaping the future leadership of the Federal Reserve by narrowing his shortlist to four candidates to replace Jerome Powell when his term ends in May 2026. Among the final contenders are Kevin Hassett, director of the National Economic Council, Treasury Secretary Scott Bessent, former Fed Governor Kevin Warsh, and current Fed Governor Christopher Waller, with Trump seeking a chair aligned with his push for rapid interest-rate cuts. Trump also nominated Stephen Miran, a top White House adviser, to fill a vacant seat on the Fed Board of Governors; Miran has testified before the Senate and is expected to be confirmed in time for the Federal Open Market Committee's mid-September meeting, where a rate cut is anticipated. While Miran assured senators he would act independently of the president, Democrats remain skeptical, concerned about potential threats to the Fed's independence and the risk of higher inflation. This push by Trump reflects ongoing tensions with Powell, who has maintained a cautious approach on interest rate adjustments despite presidential pressure. The coming appointments and policy shifts are poised to significantly impact financial markets and the central bank's stance on inflation and economic growth.