Trump Narrows Fed Chair Shortlist, Waller Added

President Donald Trump has officially removed Treasury Secretary Scott Bessent from consideration for Federal Reserve chair after Bessent chose to remain at Treasury. Trump’s shortlist to replace current Fed Chair Jerome Powell, whose term ends in May 2026, now includes former Fed governor Kevin Warsh, National Economic Council Director Kevin Hassett, and reportedly Fed Governor Christopher Waller, with the remaining candidate unnamed. Both Warsh and Hassett favor lower interest rates, aligning with Trump’s economic stance. Recent resignations, including Fed Governor Adriana Kugler’s, give Trump additional chances to shape the Fed’s board. Senate confirmation will be required for any appointments. The decision on Powell’s successor and the new board member is expected soon, amid ongoing debates over monetary policy and central bank independence.