Trump Names Hassett, Warsh, Waller Finalists for Fed Chair

US President Donald Trump has named Kevin Hassett, Kevin Warsh, and Christopher Waller as finalists to succeed Jerome Powell as chairman of the Federal Reserve, signaling a potential shift toward more aggressive interest rate cuts aligned with his economic agenda. Trump has been critical of Powell for delaying rate reductions, blaming the Fed for high mortgage rates and recent labor market weaknesses, including a rise in unemployment to 4.3%. Treasury Secretary Scott Bessent, initially considered for the role and leading the search, has declined interest and will not be nominated. Hassett supports Trump's tariffs and agrees rates have been too high, Warsh advocates for a 'regime change' at the Fed, while Waller is seen as more institutionally committed. The selection process remains ongoing, with Trump emphasizing interviews before a final decision, which could significantly influence US monetary policy and the Federal Reserve's independence. This development comes amidst growing market expectations of a rate cut in the Fed's upcoming meeting, reflecting concerns about the weakening labor market.